MannKind (NASDAQ:MNKD) Upgraded at StockNews.com

StockNews.com upgraded shares of MannKind (NASDAQ:MNKD) from a hold rating to a buy rating in a research note published on Friday.

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

MannKind Trading Up 1.2 %

Shares of MannKind stock opened at $4.98 on Friday. MannKind has a 12-month low of $3.97 and a 12-month high of $7.63. The stock has a market cap of $1.51 billion, a PE ratio of 71.14 and a beta of 1.27. The company has a 50-day moving average of $5.81 and a two-hundred day moving average of $6.28.

MannKind (NASDAQ:MNKD) last issued 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. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The company had revenue of $76.78 million during the quarter, compared to analysts’ expectations of $74.99 million. On average, sell-side analysts forecast that MannKind will post 0.1 EPS for the current fiscal year.

Institutional Trading of MannKind

Hedge funds and other institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new stake in MannKind in the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp boosted 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 valued at $42,000 after purchasing an additional 6,392 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of MannKind in the 4th quarter valued at $65,000. Beirne Wealth Consulting Services LLC acquired a new position in shares of MannKind in the 4th quarter valued at $66,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of MannKind in the 4th quarter valued at $70,000. 49.55% of the stock is owned by hedge funds and other 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.