MannKind Co. (NASDAQ:MNKD) Given Consensus Recommendation of “Buy” by Brokerages

Shares of MannKind Co. (NASDAQ:MNKD) have received an average rating of “Buy” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $9.21.

MNKD has been the topic of several research reports. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $7.00 to $10.00 in a research note on Thursday, December 19th. Wells Fargo & Company initiated coverage on MannKind in a report on Friday, December 20th. They set an “overweight” rating and a $9.00 price objective on the stock. StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of MannKind in a research report on Thursday, February 27th.

MannKind Trading Down 1.1 %

Shares of MannKind stock opened at $5.26 on Friday. MannKind has a 1 year low of $3.97 and a 1 year high of $7.63. The company’s fifty day simple moving average is $5.59 and its 200-day simple moving average is $6.24. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 75.14 and a beta of 1.27.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. As a group, research analysts forecast that MannKind will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of MannKind

Institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its stake in MannKind by 275.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company’s stock worth $31,427,000 after acquiring an additional 3,587,484 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of MannKind in the 3rd quarter worth about $12,252,000. Millennium Management LLC increased its position in shares of MannKind by 108.8% during the 4th quarter. Millennium Management LLC now owns 3,447,392 shares of the biopharmaceutical company’s stock worth $22,167,000 after purchasing an additional 1,796,442 shares in the last quarter. Graham Capital Management L.P. bought a new position in MannKind during the 4th quarter valued at about $10,229,000. Finally, Two Sigma Advisers LP boosted its position in MannKind by 60.7% in the third quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company’s stock valued at $16,658,000 after buying an additional 1,000,600 shares in 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.