MannKind (NASDAQ:MNKD) Raised 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.

A number of other equities research analysts have also recently commented on MNKD. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $7.00 to $10.00 in a report on Thursday, December 19th. Wedbush reiterated 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 began coverage on MannKind in a report on Friday, December 20th. They set an “overweight” rating and a $9.00 price objective on the stock. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $9.21.

MannKind Price Performance

MNKD opened at $5.26 on Wednesday. The stock’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 P/E ratio of 75.14 and a beta of 1.27. MannKind has a 1-year low of $3.97 and a 1-year high of $7.63.

MannKind (NASDAQ:MNKD) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The firm 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%. Research analysts expect that MannKind will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Mackenzie Financial Corp raised its position in shares of MannKind by 146.6% in the 4th quarter. Mackenzie Financial Corp now owns 80,218 shares of the biopharmaceutical company’s stock worth $516,000 after buying an additional 47,690 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of MannKind in the 4th quarter worth $37,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of MannKind in the 4th quarter worth $111,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of MannKind by 7.1% in 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 buying an additional 41,142 shares during the period. Finally, Waverly Advisors LLC purchased a new position in shares of MannKind in the 4th quarter worth $72,000. 49.55% of the stock is owned by hedge funds and other institutional investors.

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.