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

Shares of MannKind Co. (NASDAQ:MNKD - Get Free Report) have earned a consensus rating of "Buy" from the eight research firms that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $9.21.

A number of analysts recently weighed in on the company. StockNews.com upgraded MannKind from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Royal Bank of Canada upgraded shares of MannKind from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $7.00 to $10.00 in a report on Thursday, December 19th. Wells Fargo & Company initiated coverage on shares of MannKind in a report on Friday, December 20th. They set an "overweight" rating and a $9.00 price objective on the stock. Finally, Wedbush restated an "outperform" rating and set a $11.00 target price on shares of MannKind in a research report on Thursday, February 27th.

MannKind Stock Performance

MNKD traded up $0.08 during trading on Friday, hitting $5.29. The stock had a trading volume of 675,327 shares, compared to its average volume of 2,384,792. The firm has a market capitalization of $1.60 billion, a P/E ratio of 75.36 and a beta of 1.27. MannKind has a twelve month low of $3.97 and a twelve month high of $7.63. The company's 50-day moving average price is $5.63 and its 200 day moving average price is $6.26.

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MannKind (NASDAQ:MNKD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (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 business had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. As a group, equities analysts expect that MannKind will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MannKind

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of MannKind by 2.7% in the fourth 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 last quarter. State Street Corp raised its stake in MannKind by 0.4% in the 3rd quarter. State Street Corp now owns 9,597,137 shares of the biopharmaceutical company's stock valued at $60,366,000 after purchasing an additional 40,338 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 35,346 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of MannKind by 275.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock worth $31,427,000 after purchasing an additional 3,587,484 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of MannKind by 23.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 4,269,063 shares of the biopharmaceutical company's stock worth $27,450,000 after buying an additional 798,469 shares in the last quarter. Hedge funds and other institutional investors own 49.55% of the company's stock.

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.