Swiss National Bank Has $3.48 Million Position in MannKind Co. (NASDAQ:MNKD)

Swiss National Bank grew its position in MannKind Co. (NASDAQ:MNKD) by 1.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 540,900 shares of the biopharmaceutical company’s stock after purchasing an additional 9,400 shares during the period. Swiss National Bank owned about 0.20% of MannKind worth $3,478,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MNKD. Jones Financial Companies Lllp boosted its position in 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 in the last quarter. Beirne Wealth Consulting Services LLC acquired a new position in shares of MannKind in the 4th quarter worth approximately $66,000. Proficio Capital Partners LLC bought a new stake in MannKind during the 4th quarter worth approximately $70,000. Marshall Investment Management LLC acquired a new stake in MannKind during the 4th quarter valued at $69,000. Finally, Los Angeles Capital Management LLC bought a new position in MannKind in the 4th quarter valued at $86,000. Institutional investors own 49.55% of the company’s stock.

MannKind Price Performance

Shares of NASDAQ MNKD opened at $5.06 on Thursday. The company’s 50 day simple moving average is $5.52 and its 200 day simple moving average is $6.22. MannKind Co. has a fifty-two week low of $3.97 and a fifty-two week high of $7.63. The firm has a market capitalization of $1.54 billion, a P/E ratio of 72.29 and a beta of 1.27.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business 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%. Sell-side analysts expect that MannKind Co. will post 0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $7.00 to $10.00 in a research report on Thursday, December 19th. Wells Fargo & Company initiated coverage on shares of MannKind in a research report on Friday, December 20th. They set an “overweight” rating and a $9.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of MannKind in a report on Thursday, February 27th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $9.21.

MannKind 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.