Fox Run Management L.L.C. Invests $167,000 in MannKind Co. (NASDAQ:MNKD)

Fox Run Management L.L.C. acquired a new stake in shares of MannKind Co. (NASDAQ:MNKD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 26,015 shares of the biopharmaceutical company’s stock, valued at approximately $167,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its holdings 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 in the last quarter. Beirne Wealth Consulting Services LLC purchased a new stake in MannKind during the fourth quarter valued at approximately $66,000. Marshall Investment Management LLC acquired a new stake in MannKind in the fourth quarter valued at approximately $69,000. Proficio Capital Partners LLC purchased a new position in MannKind in the fourth quarter worth $70,000. Finally, Quantinno Capital Management LP acquired a new position in shares of MannKind during the third quarter worth $85,000. Hedge funds and other institutional investors own 49.55% of the company’s stock.

Analyst Ratings Changes

MNKD has been the topic of several research analyst reports. Wedbush restated an “outperform” rating and set a $11.00 target price on shares of MannKind in a research note on Thursday, February 27th. Wells Fargo & Company assumed coverage on MannKind in a research note on Friday, December 20th. They set an “overweight” rating and a $9.00 price target on the stock. Royal Bank of Canada raised shares of MannKind from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $7.00 to $10.00 in a research report on Thursday, December 19th. Finally, StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $9.21.

MannKind Price Performance

Shares of MannKind stock opened at $5.03 on Friday. The firm has a fifty day moving average price of $5.49 and a 200 day moving average price of $6.20. The stock has a market cap of $1.53 billion, a PE ratio of 71.86 and a beta of 1.27. MannKind Co. has a 1 year low of $3.97 and a 1 year high of $7.63.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The company had revenue of $76.78 million during the quarter, compared to analysts’ expectations of $74.99 million. As a group, equities analysts expect that MannKind Co. will post 0.1 EPS 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.