Teacher Retirement System of Texas Purchases 13,253 Shares of MannKind Co. (NASDAQ:MNKD)

Teacher Retirement System of Texas increased its holdings in MannKind Co. (NASDAQ:MNKD) by 19.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,543 shares of the biopharmaceutical company’s stock after purchasing an additional 13,253 shares during the period. Teacher Retirement System of Texas’ holdings in MannKind were worth $524,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. boosted its stake in shares of MannKind by 10.6% during the fourth quarter. Xponance Inc. now owns 19,067 shares of the biopharmaceutical company’s stock valued at $123,000 after purchasing an additional 1,828 shares during the period. Cibc World Markets Corp purchased a new position in MannKind during the 4th quarter valued at about $162,000. Swiss National Bank raised its holdings in shares of MannKind by 1.8% during the fourth quarter. Swiss National Bank now owns 540,900 shares of the biopharmaceutical company’s stock valued at $3,478,000 after acquiring an additional 9,400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in MannKind by 0.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,901,780 shares of the biopharmaceutical company’s stock valued at $12,228,000 after purchasing an additional 16,410 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in shares of MannKind by 162.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 50,514 shares of the biopharmaceutical company’s stock worth $325,000 after purchasing an additional 31,294 shares during the period. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

MannKind Stock Performance

Shares of MNKD stock opened at $5.03 on Tuesday. MannKind Co. has a 12 month low of $3.97 and a 12 month high of $7.63. The stock has a market cap of $1.53 billion, a P/E ratio of 71.86 and a beta of 1.27. The company has a 50 day simple moving average of $5.47 and a two-hundred day simple moving average of $6.20.

MannKind (NASDAQ:MNKD) last released 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 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%. As a group, equities analysts forecast that MannKind Co. will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MNKD. StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of MannKind in a research report on Thursday, February 27th. Wells Fargo & Company started coverage on shares of MannKind in a research report on Friday, December 20th. They set an “overweight” rating and a $9.00 price target for the company. Finally, Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $7.00 to $10.00 in a research note on Thursday, December 19th. 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 company presently has a consensus rating of “Buy” and a consensus price target of $9.21.

MannKind 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.