Analysts Set MannKind Co. (NASDAQ:MNKD) Target Price at $9.21

Shares of MannKind Co. (NASDAQ:MNKD) have been given an average rating of “Buy” by the eight brokerages that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $9.21.

A number of equities research analysts recently weighed in on MNKD shares. StockNews.com cut shares of MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. Royal Bank of Canada raised MannKind from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $7.00 to $10.00 in a report on Thursday, December 19th. Wells Fargo & Company began coverage on MannKind in a report on Friday, December 20th. They set an “overweight” rating and a $9.00 target price on the stock. Finally, Wedbush began coverage on MannKind in a report on Monday, February 10th. They set an “outperform” rating and a $11.00 target price on the stock.

Hedge Funds Weigh In On MannKind

A number of institutional investors have recently bought and sold shares of MNKD. Foundations Investment Advisors LLC purchased a new position in MannKind in the 3rd quarter worth about $93,000. Private Advisor Group LLC increased its stake in MannKind by 45.7% in the 3rd quarter. Private Advisor Group LLC now owns 30,585 shares of the biopharmaceutical company’s stock worth $192,000 after purchasing an additional 9,588 shares in the last quarter. International Assets Investment Management LLC increased its stake in MannKind by 511.6% in the 3rd quarter. International Assets Investment Management LLC now owns 88,689 shares of the biopharmaceutical company’s stock worth $558,000 after purchasing an additional 74,189 shares in the last quarter. Heritage Oak Wealth Advisors LLC purchased a new position in MannKind in the 3rd quarter worth about $176,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake 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 purchasing an additional 1,816 shares in the last quarter. Hedge funds and other institutional investors own 49.55% of the company’s stock.

MannKind Stock Down 1.0 %

Shares of NASDAQ MNKD opened at $5.65 on Wednesday. MannKind has a fifty-two week low of $3.47 and a fifty-two week high of $7.63. The firm’s 50-day simple moving average is $6.05 and its 200 day simple moving average is $6.29. The stock has a market cap of $1.56 billion, a P/E ratio of 80.64 and a beta of 1.28.

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.