MannKind Co. (NASDAQ:MNKD) Stake Lifted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in shares of MannKind Co. (NASDAQ:MNKD) by 162.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 50,514 shares of the biopharmaceutical company’s stock after acquiring an additional 31,294 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in MannKind were worth $325,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. E Fund Management Co. Ltd. boosted its position in MannKind by 9.0% during the 4th quarter. E Fund Management Co. Ltd. now owns 22,039 shares of the biopharmaceutical company’s stock worth $142,000 after acquiring an additional 1,828 shares during the period. National Bank of Canada FI lifted its holdings in shares of MannKind by 14.8% in the third quarter. National Bank of Canada FI now owns 21,553 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 2,783 shares during the period. Franklin Resources Inc. lifted its holdings in shares of MannKind by 3.0% in the third quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company’s stock valued at $1,047,000 after buying an additional 4,603 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of MannKind by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 58,475 shares of the biopharmaceutical company’s stock valued at $376,000 after buying an additional 5,585 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of MannKind by 3,294.8% in the fourth quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 6,392 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.

Analyst Upgrades and Downgrades

MNKD has been the subject of several research analyst reports. StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a report on Wednesday. Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of MannKind in a report on Thursday, February 27th. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $7.00 to $10.00 in a report on Thursday, December 19th. Finally, Wells Fargo & Company began coverage on MannKind in a research report on Friday, December 20th. They set an “overweight” rating and a $9.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $9.21.

MannKind Stock Up 2.1 %

Shares of MannKind stock opened at $5.32 on Thursday. The firm has a market capitalization of $1.62 billion, a PE ratio of 76.00 and a beta of 1.27. MannKind Co. has a 12-month low of $3.97 and a 12-month high of $7.63. The stock’s fifty day moving average is $5.61 and its 200-day moving average is $6.25.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. Analysts expect that MannKind Co. will post 0.1 EPS for the current year.

MannKind Company Profile

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults.