MannKind Co. (NASDAQ:MNKD) Shares Acquired by Raymond James & Associates

Raymond James & Associates increased its stake in MannKind Co. (NASDAQ:MNKD) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 370,212 shares of the biopharmaceutical company’s stock after purchasing an additional 34,386 shares during the quarter. Raymond James & Associates owned about 0.14% of MannKind worth $1,348,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Amalgamated Bank lifted its holdings in MannKind by 6.2% in the fourth quarter. Amalgamated Bank now owns 34,236 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 1,995 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in MannKind by 11.8% in the second quarter. Ameritas Investment Partners Inc. now owns 21,208 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 2,243 shares during the period. State of Wisconsin Investment Board lifted its holdings in MannKind by 0.9% in the fourth quarter. State of Wisconsin Investment Board now owns 245,286 shares of the biopharmaceutical company’s stock worth $1,293,000 after purchasing an additional 2,250 shares during the period. American International Group Inc. lifted its holdings in MannKind by 1.9% in the fourth quarter. American International Group Inc. now owns 120,414 shares of the biopharmaceutical company’s stock worth $635,000 after purchasing an additional 2,252 shares during the period. Finally, American Century Companies Inc. lifted its holdings in MannKind by 17.2% in the fourth quarter. American Century Companies Inc. now owns 16,529 shares of the biopharmaceutical company’s stock worth $87,000 after purchasing an additional 2,424 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Trading Up 2.5 %

Shares of NASDAQ MNKD opened at $4.18 on Friday. The firm has a 50-day moving average of $4.29 and a two-hundred day moving average of $3.91. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -83.60 and a beta of 1.28. MannKind Co. has a twelve month low of $3.17 and a twelve month high of $5.75.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $58.47 million for the quarter, compared to analyst estimates of $52.36 million. As a group, research analysts predict that MannKind Co. will post 0.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MNKD shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.50 price target on shares of MannKind in a report on Friday, March 15th. Wedbush reissued an “outperform” rating and issued a $10.00 price target on shares of MannKind in a report on Wednesday, February 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.50 price target on shares of MannKind in a report on Thursday, January 4th.

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.