MannKind Co. (NASDAQ:MNKD) Receives $9.21 Consensus Price Target from Analysts

Shares of MannKind Co. (NASDAQ:MNKD) have earned a consensus rating of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $9.21.

Several brokerages have recently issued reports on MNKD. Wedbush began coverage on MannKind in a report on Monday, February 10th. They set an “outperform” rating and a $11.00 price target for the company. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $7.00 to $10.00 in a report on Thursday, December 19th. StockNews.com lowered MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Finally, Wells Fargo & Company assumed coverage on MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 target price for the company.

MannKind Price Performance

Shares of MannKind stock opened at $5.65 on Wednesday. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 80.64 and a beta of 1.28. MannKind has a 52-week low of $3.47 and a 52-week high of $7.63. The stock has a 50-day simple moving average of $6.05 and a 200-day simple moving average of $6.29.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new position in MannKind in the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp increased its position in 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 buying an additional 6,392 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in MannKind by 22.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,816 shares during the period. Kovitz Investment Group Partners LLC bought a new position in MannKind in the 4th quarter worth approximately $65,000. Finally, Beirne Wealth Consulting Services LLC bought a new position in MannKind in the 4th quarter worth approximately $66,000. 49.55% of the stock is 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.