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

MannKind (NASDAQ:MNKD) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

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

MannKind Stock Up 2.1 %

MannKind stock traded up $0.11 during mid-day trading on Wednesday, hitting $5.32. 1,424,365 shares of the company were exchanged, compared to its average volume of 2,389,838. The business has a fifty day moving average of $5.61 and a 200 day moving average of $6.25. MannKind has a 1-year low of $3.97 and a 1-year high of $7.63. The company has a market capitalization of $1.62 billion, a PE ratio of 76.00 and a beta of 1.27.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The firm had revenue of $76.78 million during the quarter, compared to analyst estimates of $74.99 million. Research analysts expect that MannKind will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On MannKind

Hedge funds have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in MannKind during the fourth quarter worth about $37,000. Jones Financial Companies Lllp boosted its holdings in MannKind by 3,294.8% during the fourth quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 6,392 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in MannKind during the fourth quarter worth about $65,000. Beirne Wealth Consulting Services LLC bought a new position in MannKind during the fourth quarter worth about $66,000. Finally, Proficio Capital Partners LLC bought a new position in shares of MannKind during the 4th quarter valued at about $70,000. Institutional investors own 49.55% of the company’s stock.

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.