MannKind Co. (NASDAQ:MNKD) Receives Consensus Rating of "Buy" from Analysts

Shares of MannKind Co. (NASDAQ:MNKD - Get Free Report) have earned a consensus rating of "Buy" from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.21.

A number of research analysts have commented on the company. Royal Bank of Canada raised MannKind from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $7.00 to $10.00 in a report on Thursday, December 19th. StockNews.com lowered MannKind from a "buy" rating to a "hold" rating in a report on Saturday, December 7th. Wedbush assumed coverage on MannKind in a report on Monday, February 10th. They issued an "outperform" rating and a $11.00 price objective on the stock. Finally, Wells Fargo & Company assumed coverage on MannKind in a report on Friday, December 20th. They issued an "overweight" rating and a $9.00 price objective on the stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp grew its position in MannKind by 146.6% in the fourth quarter. Mackenzie Financial Corp now owns 80,218 shares of the biopharmaceutical company's stock valued at $516,000 after acquiring an additional 47,690 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in MannKind in the fourth quarter valued at about $37,000. Focus Partners Advisor Solutions LLC bought a new position in MannKind in the fourth quarter valued at about $111,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MannKind by 7.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 617,670 shares of the biopharmaceutical company's stock valued at $3,972,000 after acquiring an additional 41,142 shares during the last quarter. Finally, Waverly Advisors LLC bought a new position in MannKind in the fourth quarter valued at about $72,000. Institutional investors own 49.55% of the company's stock.

MannKind Stock Performance

MNKD traded up $0.11 during trading hours on Wednesday, reaching $5.77. The company's stock had a trading volume of 1,925,648 shares, compared to its average volume of 1,903,329. MannKind has a 52 week low of $3.47 and a 52 week high of $7.63. The company's 50-day moving average is $6.08 and its 200-day moving average is $6.26. The firm has a market cap of $1.59 billion, a PE ratio of 82.36 and a beta of 1.28.

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.