MannKind (NASDAQ:MNKD) Rating Increased to Buy at StockNews.com

MannKind (NASDAQ:MNKD) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

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

MannKind Trading Up 2.1 %

Shares of NASDAQ:MNKD traded up $0.11 during trading on Wednesday, hitting $5.32. 1,424,365 shares of the company’s stock traded hands, compared to its average volume of 2,389,838. MannKind has a 52 week low of $3.97 and a 52 week high of $7.63. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 76.00 and a beta of 1.27. The company has a 50-day moving average price of $5.61 and a 200-day moving average price of $6.25.

MannKind (NASDAQ:MNKD) last announced 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 negative return on equity of 17.74% and a net margin of 8.07%. The business had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. On average, analysts predict that MannKind will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new position in shares of MannKind during the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp increased its holdings in shares of MannKind by 3,294.8% during the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 6,392 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in MannKind in the 4th quarter valued at $65,000. Beirne Wealth Consulting Services LLC bought a new stake in MannKind in the 4th quarter valued at $66,000. Finally, Proficio Capital Partners LLC bought a new stake in MannKind in the 4th quarter valued at $70,000. 49.55% of the stock is owned by institutional investors and hedge funds.

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.