MannKind Co. (NASDAQ:MNKD) Given Consensus Recommendation of “Buy” by Brokerages

Shares of MannKind Co. (NASDAQ:MNKD) have received an average recommendation of “Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $8.80.

Several analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $6.50 target price on shares of MannKind in a research report on Thursday, May 9th. Oppenheimer raised their price objective on MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Rodman & Renshaw began coverage on shares of MannKind in a report on Thursday, June 13th. They issued a “buy” rating and a $8.00 price target on the stock.

Institutional Investors Weigh In On MannKind

Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MannKind by 11.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,744 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 7,154 shares during the last quarter. Bailard Inc. acquired a new position in MannKind during the fourth quarter worth $112,000. Victory Capital Management Inc. grew its stake in shares of MannKind by 23.9% in the fourth quarter. Victory Capital Management Inc. now owns 35,064 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 6,753 shares in the last quarter. AJOVista LLC purchased a new stake in shares of MannKind in the 4th quarter valued at $71,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in MannKind by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,066,844 shares of the biopharmaceutical company’s stock worth $7,523,000 after acquiring an additional 30,433 shares in the last quarter. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

MannKind Price Performance

Shares of NASDAQ:MNKD traded up $0.57 during trading on Wednesday, hitting $5.95. The company had a trading volume of 1,705,862 shares, compared to its average volume of 2,629,581. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 198.67 and a beta of 1.32. The company has a fifty day simple moving average of $5.39 and a two-hundred day simple moving average of $4.75. MannKind has a one year low of $3.17 and a one year high of $6.06.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. MannKind had a net margin of 3.78% and a negative return on equity of 3.35%. The business had revenue of $72.39 million for the quarter, compared to analysts’ expectations of $64.81 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. The business’s revenue was up 48.9% compared to the same quarter last year. On average, equities research analysts anticipate that MannKind will post 0.1 earnings per share for the current year.

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.