Charles Schwab Investment Management Inc. Buys 45,277 Shares of MannKind Co. (NASDAQ:MNKD)

Charles Schwab Investment Management Inc. raised its stake in MannKind Co. (NASDAQ:MNKD) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,270,106 shares of the biopharmaceutical company’s stock after acquiring an additional 45,277 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MannKind were worth $14,597,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its position in MannKind by 3,294.8% in 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. Proficio Capital Partners LLC bought a new stake in shares of MannKind during the fourth quarter worth $70,000. Los Angeles Capital Management LLC bought a new stake in shares of MannKind during the fourth quarter worth $86,000. Bank of New York Mellon Corp grew its holdings in shares of MannKind by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 789,760 shares of the biopharmaceutical company’s stock worth $5,078,000 after purchasing an additional 51,598 shares during the last quarter. Finally, Marshall Investment Management LLC bought a new stake in shares of MannKind during the fourth quarter worth $69,000. 49.55% of the stock is currently owned by institutional investors.

MannKind Stock Down 1.1 %

MannKind stock opened at $5.26 on Friday. The business’s 50-day simple moving average is $5.59 and its 200 day simple moving average is $6.24. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 75.14 and a beta of 1.27. MannKind Co. has a 12-month low of $3.97 and a 12-month high of $7.63.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $7.00 to $10.00 in a report on Thursday, December 19th. StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a report on Wednesday. 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 started coverage on MannKind in a report on Friday, December 20th. They set an “overweight” rating and a $9.00 target price on the stock. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $9.21.

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.