MannKind (NASDAQ:MNKD) Raised to Buy at StockNews.com

MannKind (NASDAQ:MNKD) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

MNKD has been the subject of several other reports. Wells Fargo & Company assumed coverage on MannKind in a research note on Friday, December 20th. They set an “overweight” rating and a $9.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th. Finally, Royal Bank of Canada raised 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 research note on Thursday, December 19th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, MannKind presently has a consensus rating of “Buy” and an average target price of $9.21.

MannKind Stock Down 1.1 %

Shares of NASDAQ MNKD opened at $5.26 on Wednesday. The stock has a market cap of $1.60 billion, a PE ratio of 75.14 and a beta of 1.27. MannKind has a 52-week low of $3.97 and a 52-week high of $7.63. The business has a 50-day moving average price of $5.59 and a 200 day moving average price of $6.24.

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

Hedge Funds Weigh In On MannKind

A number of large investors have recently modified their holdings of MNKD. GF Fund Management CO. LTD. purchased a new position in shares of MannKind during the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp grew its holdings in shares of MannKind by 3,294.8% in the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 6,392 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in shares of MannKind in the 4th quarter worth approximately $65,000. Beirne Wealth Consulting Services LLC acquired a new stake in shares of MannKind in the 4th quarter worth approximately $66,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of MannKind in the 4th quarter worth approximately $69,000. 49.55% of the stock is owned by hedge funds and other institutional investors.

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.