MannKind (NASDAQ:MNKD) Raised to Buy at StockNews.com

MannKind (NASDAQ:MNKD - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Friday.

A number of other analysts also recently issued reports on MNKD. Wedbush reiterated an "outperform" rating and issued a $11.00 price target on shares of MannKind in a report on Thursday, February 27th. Wells Fargo & Company began coverage on MannKind in a research report on Friday, December 20th. They issued an "overweight" rating and a $9.00 target price on the stock. Finally, Royal Bank of Canada raised 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 research note on Thursday, December 19th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $9.21.

MannKind Stock Up 0.2 %

NASDAQ:MNKD traded up $0.01 on Friday, reaching $4.99. 2,814,114 shares of the company's stock traded hands, compared to its average volume of 2,104,178. The firm has a market cap of $1.51 billion, a PE ratio of 71.29 and a beta of 1.27. The stock has a 50-day simple moving average of $5.81 and a 200-day simple moving average of $6.28. MannKind has a 12 month low of $3.97 and a 12 month high of $7.63.

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MannKind (NASDAQ:MNKD - Get Free Report) last posted its quarterly 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 negative return on equity of 17.74% and a net margin of 8.07%. The company had revenue of $76.78 million for the quarter, compared to analysts' expectations of $74.99 million. On average, equities analysts anticipate that MannKind will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its position in MannKind by 401.8% during the 3rd quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company's stock worth $1,060,000 after buying an additional 134,937 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in MannKind during the third quarter valued at $12,252,000. Barclays PLC boosted its holdings in MannKind by 186.0% in the third quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company's stock valued at $3,271,000 after purchasing an additional 338,121 shares during the last quarter. Parkman Healthcare Partners LLC grew its position in MannKind by 37.1% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 3,304,085 shares of the biopharmaceutical company's stock worth $20,783,000 after purchasing an additional 894,486 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of MannKind by 15.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,885,370 shares of the biopharmaceutical company's stock valued at $11,859,000 after buying an additional 251,587 shares during the last quarter. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

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.