Invesco Ltd. reduced its position in MannKind Co. (NASDAQ:MNKD - Free Report) by 27.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,220,835 shares of the biopharmaceutical company's stock after selling 464,293 shares during the quarter. Invesco Ltd. owned about 0.44% of MannKind worth $7,850,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in MannKind by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 16,058,557 shares of the biopharmaceutical company's stock worth $103,257,000 after acquiring an additional 420,334 shares during the period. Geode Capital Management LLC grew its position in MannKind by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 6,374,274 shares of the biopharmaceutical company's stock valued at $40,996,000 after buying an additional 35,346 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in MannKind by 275.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock valued at $31,427,000 after buying an additional 3,587,484 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 worth $14,597,000 after buying an additional 45,277 shares during the last quarter. Finally, 180 Wealth Advisors LLC lifted its position in MannKind by 1.0% in the fourth quarter. 180 Wealth Advisors LLC now owns 2,105,707 shares of the biopharmaceutical company's stock valued at $13,540,000 after purchasing an additional 21,170 shares during the period. 49.55% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Wedbush restated an "outperform" rating and issued a $11.00 price target on shares of MannKind in a research report on Thursday, February 27th. Mizuho started coverage on shares of MannKind in a report on Thursday, April 10th. They set an "outperform" rating and a $12.00 target price for the company. Finally, StockNews.com raised shares of MannKind from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $9.56.
Check Out Our Latest Analysis on MannKind
MannKind Price Performance
NASDAQ:MNKD traded up $0.12 during trading hours on Tuesday, reaching $4.85. 590,770 shares of the company were exchanged, compared to its average volume of 2,384,932. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 69.21 and a beta of 1.22. The stock has a 50 day simple moving average of $4.99 and a 200 day simple moving average of $5.93. MannKind Co. has a 52-week low of $4.11 and a 52-week high of $7.63.
MannKind (NASDAQ:MNKD - Get Free Report) last issued its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share 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 firm had revenue of $76.78 million for the quarter, compared to analysts' expectations of $74.99 million. On average, analysts predict that MannKind Co. will post 0.1 EPS for the current fiscal 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.
Featured Stories
Before you consider MannKind, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MannKind wasn't on the list.
While MannKind currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
