MannKind (NASDAQ:MNKD) Upgraded at StockNews.com

StockNews.com upgraded shares of MannKind (NASDAQ:MNKD) from a hold rating to a buy rating in a report published on Friday.

Several other equities analysts have also weighed in on the stock. Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $7.00 to $10.00 in a report on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $11.00 target price on shares of MannKind in a report on Thursday, February 27th. Finally, Wells Fargo & Company initiated coverage on shares of MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $9.21.

MannKind Trading Up 1.2 %

NASDAQ:MNKD opened at $4.98 on Friday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 71.14 and a beta of 1.27. The firm’s fifty day simple moving average is $5.81 and its 200 day simple moving average is $6.28. MannKind has a twelve month low of $3.97 and a twelve month high of $7.63.

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

Institutional Investors Weigh In On MannKind

Several hedge funds and other institutional investors have recently modified their holdings of MNKD. GF Fund Management CO. LTD. bought a new stake in shares of MannKind in the 4th quarter worth about $37,000. Jones Financial Companies Lllp increased its position 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 purchasing an additional 6,392 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of MannKind in the 4th quarter worth about $65,000. Beirne Wealth Consulting Services LLC bought a new stake in shares of MannKind in the 4th quarter worth about $66,000. Finally, Marshall Investment Management LLC bought a new stake in shares of MannKind in the 4th quarter worth about $69,000. Institutional investors 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.