Cibc World Markets Corp Buys Shares of 25,204 MannKind Co. (NASDAQ:MNKD)

Cibc World Markets Corp acquired a new position in shares of MannKind Co. (NASDAQ:MNKD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 25,204 shares of the biopharmaceutical company’s stock, valued at approximately $162,000.

A number of other institutional investors also recently added to or reduced their stakes in MNKD. Jones Financial Companies Lllp lifted its stake in shares of MannKind by 3,294.8% in the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 6,392 shares during the period. Beirne Wealth Consulting Services LLC acquired a new position in shares of MannKind in the 4th quarter worth $66,000. Marshall Investment Management LLC purchased a new position in MannKind in the 4th quarter worth about $69,000. Proficio Capital Partners LLC purchased a new position in shares of MannKind in the fourth quarter worth approximately $70,000. Finally, Quantinno Capital Management LP acquired a new stake in MannKind during the 3rd quarter valued at $85,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Price Performance

NASDAQ:MNKD opened at $5.06 on Thursday. MannKind Co. has a one year low of $3.97 and a one year high of $7.63. The company has a fifty day moving average price of $5.52 and a 200 day moving average price of $6.22. The stock has a market cap of $1.54 billion, a P/E ratio of 72.29 and a beta of 1.27.

MannKind (NASDAQ:MNKD) last released its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $76.78 million for the quarter, compared to the consensus estimate of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. As a group, equities research analysts anticipate that MannKind Co. will post 0.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MNKD shares. Wells Fargo & Company began coverage on MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 target price on the stock. Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of MannKind in a report on Thursday, February 27th. StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Finally, Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $7.00 to $10.00 in a research note on Thursday, December 19th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $9.21.

MannKind Company Profile

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.