MannKind Co. (NASDAQ:MNKD) Receives Consensus Rating of “Buy” from Analysts

MannKind Co. (NASDAQ:MNKD) has received an average rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $9.21.

MNKD has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated coverage on MannKind in a research report on Friday, December 20th. They issued an “overweight” rating and a $9.00 target price on the stock. StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $11.00 target price on shares of MannKind in a research report on Thursday, February 27th. Finally, Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $7.00 to $10.00 in a research report on Thursday, December 19th.

MannKind Stock Down 0.8 %

MNKD stock opened at $5.22 on Friday. The company has a market cap of $1.58 billion, a PE ratio of 74.57 and a beta of 1.27. The business has a 50-day simple moving average of $5.58 and a 200 day simple moving average of $6.24. MannKind has a 52 week low of $3.97 and a 52 week high of $7.63.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 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 negative return on equity of 17.74% and a net margin of 8.07%. On average, analysts anticipate that MannKind will post 0.1 EPS for the current fiscal year.

Institutional Trading of MannKind

Hedge funds and other institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in shares of MannKind in the fourth quarter worth approximately $37,000. Jones Financial Companies Lllp lifted its stake in shares of MannKind by 3,294.8% in 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 period. Kovitz Investment Group Partners LLC acquired a new position in shares of MannKind in the fourth quarter worth approximately $65,000. Beirne Wealth Consulting Services LLC acquired a new position in shares of MannKind in the fourth quarter worth approximately $66,000. Finally, Marshall Investment Management LLC acquired a new position in shares of MannKind in the fourth quarter worth approximately $69,000. 49.55% of the stock is currently owned by 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.