MannKind (NASDAQ:MNKD) Upgraded at StockNews.com

StockNews.com upgraded shares of MannKind (NASDAQ:MNKD - Free Report) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Several other equities research analysts also recently weighed in on MNKD. Wells Fargo & Company started coverage on shares of MannKind in a research note on Friday, December 20th. They issued an "overweight" rating and a $9.00 target price for the company. Royal Bank of Canada raised MannKind from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. Finally, Wedbush started coverage on MannKind in a research report on Monday, February 10th. They set an "outperform" rating and a $11.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $9.21.

MannKind Trading Up 2.1 %

Shares of MNKD traded up $0.11 during trading hours on Wednesday, hitting $5.34. The company had a trading volume of 2,987,576 shares, compared to its average volume of 1,998,728. MannKind has a one year low of $3.97 and a one year high of $7.63. The company's fifty day moving average price is $5.98 and its two-hundred day moving average price is $6.28. The company has a market capitalization of $1.47 billion, a PE ratio of 76.29 and a beta of 1.28.

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MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $74.99 million. Analysts forecast that MannKind will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On MannKind

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNKD. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of MannKind by 22.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company's stock valued at $62,000 after purchasing an additional 1,816 shares during the period. E Fund Management Co. Ltd. lifted its holdings in shares of MannKind by 9.0% during the fourth quarter. E Fund Management Co. Ltd. now owns 22,039 shares of the biopharmaceutical company's stock worth $142,000 after purchasing an additional 1,828 shares during the period. Xponance Inc. boosted its position in MannKind by 10.6% in the fourth quarter. Xponance Inc. now owns 19,067 shares of the biopharmaceutical company's stock valued at $123,000 after buying an additional 1,828 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in MannKind by 10.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company's stock worth $181,000 after buying an additional 2,657 shares during the period. Finally, National Bank of Canada FI raised its position in MannKind by 14.8% during the 3rd quarter. National Bank of Canada FI now owns 21,553 shares of the biopharmaceutical company's stock worth $136,000 after buying an additional 2,783 shares during the last quarter. Hedge funds and other institutional investors own 49.55% of the company's stock.

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.