MannKind (NASDAQ:MNKD) Rating Increased to Strong-Buy at Mizuho

Mizuho upgraded shares of MannKind (NASDAQ:MNKD - Free Report) to a strong-buy rating in a report issued on Wednesday, April 9th,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada upgraded MannKind from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $7.00 to $10.00 in a research note on Thursday, December 19th. StockNews.com raised shares of MannKind from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Wedbush restated an "outperform" rating and set a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th. Finally, Wells Fargo & Company started coverage on shares of MannKind in a report on Friday, December 20th. They set an "overweight" rating and a $9.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $9.56.

MannKind Stock Performance

MNKD traded down $0.12 on Wednesday, reaching $4.52. 1,084,978 shares of the company's stock were exchanged, compared to its average volume of 2,393,868. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 64.57 and a beta of 1.22. MannKind has a twelve month low of $3.97 and a twelve month high of $7.63. The company's 50 day moving average is $5.16 and its 200-day moving average is $6.04.

MannKind (NASDAQ:MNKD - Get Free Report) last posted its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.03. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The business had revenue of $76.78 million during the quarter, compared to analyst estimates of $74.99 million. Sell-side analysts forecast that MannKind will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new position in shares of MannKind during the 4th quarter valued at $37,000. Jones Financial Companies Lllp lifted its holdings in shares of MannKind by 3,294.8% during the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 6,392 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in MannKind in the fourth quarter worth approximately $65,000. Beirne Wealth Consulting Services LLC bought a new position in MannKind during the fourth quarter valued at approximately $66,000. Finally, Proficio Capital Partners LLC bought a new stake in MannKind in the fourth quarter worth approximately $70,000. 49.55% of the stock is 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.