MannKind (NASDAQ:MNKD) Upgraded by StockNews.com to “Buy” Rating

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

MNKD has been the topic of several other reports. Wedbush initiated coverage on MannKind in a research report on Monday, February 10th. They issued an “outperform” rating and a $11.00 target price on the stock. Wells Fargo & Company began 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. Finally, Royal Bank of Canada raised shares of MannKind from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $7.00 to $10.00 in a research note on Thursday, December 19th. Eight investment 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.com, MannKind currently has an average rating of “Buy” and an average target price of $9.21.

MannKind Stock Performance

NASDAQ MNKD opened at $5.23 on Wednesday. The firm has a market capitalization of $1.44 billion, a PE ratio of 74.71 and a beta of 1.28. MannKind has a one year low of $3.86 and a one year high of $7.63. The company has a 50-day simple moving average of $6.01 and a 200-day simple moving average of $6.27.

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

Hedge Funds Weigh In On MannKind

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. bought a new stake in shares of MannKind during the 4th quarter worth about $37,000. Jones Financial Companies Lllp increased its stake in shares of MannKind by 3,294.8% during the fourth quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 6,392 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in MannKind by 22.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 1,816 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in MannKind in the fourth quarter worth approximately $65,000. Finally, Beirne Wealth Consulting Services LLC bought a new position in MannKind during the 4th quarter valued at $66,000. 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.