MannKind (NASDAQ:MNKD) Rating Increased to Buy at StockNews.com

MannKind (NASDAQ:MNKD) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

MNKD has been the subject of several other reports. Wells Fargo & Company initiated coverage on MannKind in a research note on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target for the company. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $7.00 to $10.00 in a research report on Thursday, December 19th. Finally, Wedbush restated an “outperform” rating and issued a $11.00 price target on shares of MannKind in a research report on Thursday, February 27th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $9.21.

MannKind Stock Performance

MNKD opened at $4.92 on Friday. The stock has a fifty day moving average of $5.88 and a 200-day moving average of $6.28. The company has a market capitalization of $1.49 billion, a P/E ratio of 70.29 and a beta of 1.28. MannKind has a fifty-two week low of $3.97 and a fifty-two week high of $7.63.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share 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 business had revenue of $76.78 million during the quarter, compared to analysts’ expectations of $74.99 million. On average, equities research analysts predict that MannKind will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MannKind

A number of institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp grew its position in MannKind by 146.6% in the fourth quarter. Mackenzie Financial Corp now owns 80,218 shares of the biopharmaceutical company’s stock valued at $516,000 after acquiring an additional 47,690 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of MannKind in the 4th quarter valued at approximately $37,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of MannKind during the 4th quarter valued at approximately $111,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in MannKind by 7.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 617,670 shares of the biopharmaceutical company’s stock worth $3,972,000 after purchasing an additional 41,142 shares in the last quarter. Finally, Waverly Advisors LLC bought a new position in MannKind in the 4th quarter valued at approximately $72,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

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.