MannKind Co. (NASDAQ:MNKD) Given Average Rating of “Buy” by Brokerages

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

MNKD has been the subject of a number of research analyst reports. Royal Bank of Canada raised shares of 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 research note on Thursday, December 19th. Wells Fargo & Company assumed coverage on shares of MannKind in a research report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $11.00 price objective on shares of MannKind in a research report on Thursday, February 27th. Finally, StockNews.com raised MannKind from a “hold” rating to a “buy” rating in a research note on Wednesday.

MannKind Stock Performance

MannKind stock opened at $5.26 on Friday. The business’s fifty day moving average is $5.59 and its two-hundred day moving average is $6.24. The firm has a market cap of $1.60 billion, a P/E 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.

MannKind (NASDAQ:MNKD) last released its quarterly 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 negative return on equity of 17.74% and a net margin of 8.07%. The business had revenue of $76.78 million during the quarter, compared to analysts’ expectations of $74.99 million. On average, equities research analysts predict that MannKind will post 0.1 earnings per share for the current year.

Institutional Trading of MannKind

Institutional investors have recently bought and sold shares of the business. E Fund Management Co. Ltd. lifted its stake in shares of MannKind by 9.0% in the 4th quarter. E Fund Management Co. Ltd. now owns 22,039 shares of the biopharmaceutical company’s stock valued at $142,000 after purchasing an additional 1,828 shares during the period. Xponance Inc. boosted its holdings in MannKind by 10.6% during the fourth quarter. Xponance Inc. now owns 19,067 shares of the biopharmaceutical company’s stock worth $123,000 after buying an additional 1,828 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in MannKind by 10.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 2,657 shares during the last quarter. National Bank of Canada FI grew its position in shares of MannKind by 14.8% during the 3rd quarter. National Bank of Canada FI now owns 21,553 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 2,783 shares during the period. Finally, AXQ Capital LP increased its stake in shares of MannKind by 19.8% in the 4th quarter. AXQ Capital LP now owns 22,530 shares of the biopharmaceutical company’s stock valued at $145,000 after acquiring an additional 3,717 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

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.