Carrera Capital Advisors purchased a new position in MannKind Co. (NASDAQ:MNKD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 159,165 shares of the biopharmaceutical company's stock, valued at approximately $1,023,000. Carrera Capital Advisors owned approximately 0.06% of MannKind at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in MannKind by 358.6% during the 4th quarter. Victory Capital Management Inc. now owns 219,367 shares of the biopharmaceutical company's stock valued at $1,411,000 after acquiring an additional 171,537 shares during the period. Cornerstone Investment Partners LLC bought a new position in MannKind during the 4th quarter valued at about $187,000. Charles Schwab Investment Management Inc. lifted its stake in MannKind by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,270,106 shares of the biopharmaceutical company's stock valued at $14,597,000 after acquiring an additional 45,277 shares during the period. Jones Financial Companies Lllp lifted its stake in MannKind by 3,294.8% during the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company's stock valued at $42,000 after acquiring an additional 6,392 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in MannKind during the 4th quarter valued at about $70,000. Institutional investors own 49.55% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. Wedbush restated an "outperform" rating and set a $11.00 target price on shares of MannKind in a research note on Thursday, February 27th. Royal Bank of Canada upgraded shares of MannKind from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $7.00 to $10.00 in a research note on Thursday, December 19th. Wells Fargo & Company started coverage on shares of MannKind in a research note on Friday, December 20th. They set an "overweight" rating and a $9.00 target price on the stock. Finally, StockNews.com upgraded shares of MannKind from a "hold" rating to a "buy" rating in a research note on Friday. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $9.21.
Check Out Our Latest Stock Report on MNKD
MannKind Price Performance
Shares of NASDAQ:MNKD traded up $0.06 during trading on Friday, hitting $4.98. The company's stock had a trading volume of 3,064,695 shares, compared to its average volume of 2,088,052. The company has a 50-day moving average of $5.84 and a 200-day moving average of $6.27. MannKind Co. has a 12 month low of $3.97 and a 12 month high of $7.63. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 71.14 and a beta of 1.28.
MannKind (NASDAQ:MNKD - Get Free Report) last released its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 EPS for the quarter, hitting 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 for the quarter, compared to analysts' expectations of $74.99 million. As a group, research analysts anticipate that MannKind Co. will post 0.1 earnings per share for the current year.
About MannKind
(
Free Report)
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.
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