Wedbush assumed coverage on shares of MannKind (NASDAQ:MNKD - Free Report) in a report issued on Monday, Marketbeat Ratings reports. The firm issued an outperform rating and a $11.00 price target on the biopharmaceutical company's stock.
A number of other research firms also recently commented on MNKD. Wells Fargo & Company began coverage on shares of MannKind in a research report on Friday, December 20th. They set an "overweight" rating and a $9.00 price target on the stock. StockNews.com cut MannKind from a "buy" rating to a "hold" rating in a report on Saturday, December 7th. 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. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, MannKind presently has a consensus rating of "Buy" and a consensus target price of $9.21.
Read Our Latest Report on MannKind
MannKind Price Performance
Shares of MNKD traded down $0.05 during trading hours on Monday, reaching $5.55. 1,444,335 shares of the company's stock traded hands, compared to its average volume of 1,897,498. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 79.29 and a beta of 1.28. The business's fifty day simple moving average is $6.20 and its two-hundred day simple moving average is $6.26. MannKind has a twelve month low of $3.41 and a twelve month high of $7.63.
Insider Buying and Selling
In other news, Director Steven B. Binder sold 67,539 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $6.76, for a total transaction of $456,563.64. Following the sale, the director now directly owns 1,075,026 shares of the company's stock, valued at $7,267,175.76. The trade was a 5.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On MannKind
Institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted 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 in the last quarter. E Fund Management Co. Ltd. raised its position in MannKind by 9.0% during the fourth quarter. E Fund Management Co. Ltd. now owns 22,039 shares of the biopharmaceutical company's stock valued at $142,000 after buying an additional 1,828 shares during the period. Xponance Inc. lifted its stake in MannKind by 10.6% in the 4th quarter. Xponance Inc. now owns 19,067 shares of the biopharmaceutical company's stock worth $123,000 after acquiring an additional 1,828 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in MannKind by 10.4% during the 4th quarter. Ameritas Investment Partners Inc. now owns 28,174 shares of the biopharmaceutical company's stock worth $181,000 after acquiring an additional 2,657 shares during the period. Finally, National Bank of Canada FI grew its stake 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 valued at $136,000 after acquiring an additional 2,783 shares in the last quarter. Hedge funds and other institutional investors own 49.55% of the company's stock.
About MannKind
(
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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.
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