Analysts Set MannKind Co. (NASDAQ:MNKD) PT at $9.21

Shares of MannKind Co. (NASDAQ:MNKDGet Free Report) have been assigned an average recommendation of “Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $9.56.

Several equities research analysts have recently commented on the company. Royal Bank of Canada raised 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. Wedbush restated an “outperform” rating and issued a $11.00 price target on shares of MannKind in a research report on Thursday, February 27th. StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Wells Fargo & Company started coverage on MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target for the company. Finally, Mizuho started coverage on MannKind in a research note on Thursday. They set an “outperform” rating and a $12.00 price objective on the stock.

View Our Latest Research Report on MNKD

Institutional Inflows and Outflows

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

MannKind Price Performance

MannKind stock opened at $4.66 on Thursday. MannKind has a 1-year low of $3.97 and a 1-year high of $7.63. The stock’s 50 day moving average price is $5.20 and its 200 day moving average price is $6.07. The company has a market cap of $1.42 billion, a PE ratio of 66.57 and a beta of 1.22.

MannKind (NASDAQ:MNKDGet Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $76.78 million during the quarter, compared to the consensus estimate of $74.99 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. On average, equities research analysts anticipate that MannKind will post 0.1 EPS for the current fiscal year.

About MannKind

(Get Free Report

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.

Further Reading

Analyst Recommendations for MannKind (NASDAQ:MNKD)

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