Brokerages Set MannKind Co. (NASDAQ:MNKD) Target Price at $9.21

MannKind Co. (NASDAQ:MNKD) has been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $9.21.

A number of research firms have recently weighed in on MNKD. Wedbush reiterated an “outperform” rating and set a $11.00 price target on shares of MannKind in a report on Thursday, February 27th. Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $7.00 to $10.00 in a research report on Thursday, December 19th. StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Finally, 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 target price for the company.

Hedge Funds Weigh In On MannKind

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

MannKind Price Performance

Shares of MNKD stock opened at $5.21 on Friday. The company has a market capitalization of $1.58 billion, a PE ratio of 74.43 and a beta of 1.27. The firm’s 50-day moving average is $5.63 and its two-hundred day moving average is $6.26. MannKind has a 12 month low of $3.97 and a 12 month high of $7.63.

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

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.