MannKind (NASDAQ:MNKD) Upgraded by StockNews.com to Buy Rating

MannKind (NASDAQ:MNKD) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other research firms also recently issued reports on MNKD. Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of MannKind in a research report on Thursday, February 27th. Royal Bank of Canada raised MannKind from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. Finally, Wells Fargo & Company assumed coverage on MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $9.21.

MannKind Stock Down 4.5 %

NASDAQ:MNKD opened at $4.92 on Friday. MannKind has a twelve month low of $3.97 and a twelve month high of $7.63. The company has a market cap of $1.49 billion, a P/E ratio of 70.29 and a beta of 1.28. The business has a 50 day moving average price of $5.88 and a two-hundred day moving average price of $6.28.

MannKind (NASDAQ:MNKD) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The business had revenue of $76.78 million during the quarter, compared to analysts’ expectations of $74.99 million. As a group, analysts anticipate that MannKind will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. E Fund Management Co. Ltd. lifted its holdings 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 valued at $142,000 after purchasing an additional 1,828 shares during the last quarter. Xponance Inc. raised its position in shares of MannKind by 10.6% in the fourth quarter. Xponance Inc. now owns 19,067 shares of the biopharmaceutical company’s stock valued at $123,000 after purchasing an additional 1,828 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of MannKind by 10.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 2,657 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of MannKind by 14.8% during the 3rd quarter. National Bank of Canada FI now owns 21,553 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 2,783 shares during the last quarter. Finally, AXQ Capital LP boosted its holdings in shares of MannKind by 19.8% during the 4th quarter. AXQ Capital LP now owns 22,530 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 3,717 shares during the period. 49.55% of the stock is currently owned by institutional investors.

About MannKind

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.