MannKind (NASDAQ:MNKD - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at Wedbush in a research report issued to clients and investors on Thursday,RTT News reports. They presently have a $11.00 price objective on the biopharmaceutical company's stock. Wedbush's price target would indicate a potential upside of 114.42% from the stock's previous close.
A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada upgraded MannKind from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. 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 target price on the stock. Finally, StockNews.com upgraded shares of MannKind from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $9.21.
Check Out Our Latest Stock Report on MNKD
MannKind Stock Down 3.9 %
NASDAQ:MNKD traded down $0.21 during mid-day trading on Thursday, reaching $5.13. 3,275,040 shares of the company were exchanged, compared to its average volume of 2,030,655. The stock has a market cap of $1.41 billion, a PE ratio of 73.29 and a beta of 1.28. MannKind has a 12 month low of $3.97 and a 12 month high of $7.63. The company has a fifty day moving average of $5.98 and a 200 day moving average of $6.29.
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 for the quarter, compared to analysts' expectations of $74.99 million. On average, equities research analysts anticipate that MannKind will post 0.1 EPS for the current fiscal year.
Institutional Trading of MannKind
A number of institutional investors and hedge funds have recently modified their holdings of MNKD. Private Advisor Group LLC grew its holdings in MannKind by 45.7% during the third quarter. Private Advisor Group LLC now owns 30,585 shares of the biopharmaceutical company's stock valued at $192,000 after purchasing an additional 9,588 shares during the period. International Assets Investment Management LLC boosted its position in shares of MannKind by 511.6% during the third quarter. International Assets Investment Management LLC now owns 88,689 shares of the biopharmaceutical company's stock worth $558,000 after purchasing an additional 74,189 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of MannKind by 22.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company's stock valued at $62,000 after buying an additional 1,816 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of MannKind by 65.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 52,890 shares of the biopharmaceutical company's stock valued at $333,000 after buying an additional 20,896 shares in the last quarter. Finally, US Bancorp DE bought a new stake in shares of MannKind in the 3rd quarter valued at $407,000. 49.55% of the stock is owned by institutional investors.
MannKind Company Profile
(
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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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