Mariner LLC Takes $1.69 Million Position in MannKind Co. (NASDAQ:MNKD)

Mariner LLC purchased a new stake in MannKind Co. (NASDAQ:MNKD - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 263,302 shares of the biopharmaceutical company's stock, valued at approximately $1,693,000. Mariner LLC owned 0.10% of MannKind as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in MannKind by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 16,058,557 shares of the biopharmaceutical company's stock valued at $103,257,000 after buying an additional 420,334 shares during the last quarter. Geode Capital Management LLC lifted 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 purchasing an additional 35,346 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in MannKind by 275.9% during 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 purchasing an additional 3,587,484 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of MannKind by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,270,106 shares of the biopharmaceutical company's stock valued at $14,597,000 after purchasing an additional 45,277 shares during the period. Finally, 180 Wealth Advisors LLC raised its holdings in shares of MannKind by 1.0% during 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 buying an additional 21,170 shares during the last quarter. Institutional investors own 49.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wedbush reissued an "outperform" rating and issued a $11.00 price objective on shares of MannKind in a report on Thursday, February 27th. Mizuho assumed coverage on MannKind in a research note on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price target for the company. Finally, StockNews.com upgraded shares of MannKind from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, MannKind has a consensus rating of "Buy" and a consensus target price of $9.56.

MannKind Trading Down 0.2 %

MNKD stock traded down $0.01 during trading hours on Monday, hitting $4.73. 1,334,220 shares of the stock traded hands, compared to its average volume of 2,392,022. The stock has a 50-day simple moving average of $5.01 and a 200 day simple moving average of $5.94. MannKind Co. has a one year low of $4.11 and a one year high of $7.63. The company has a market cap of $1.44 billion, a P/E ratio of 67.57 and a beta of 1.22.

MannKind (NASDAQ:MNKD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The company had revenue of $76.78 million for the quarter, compared to analysts' expectations of $74.99 million. Analysts forecast that MannKind Co. will post 0.1 earnings per share for the current year.

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.