Brokerages Set MannKind Co. (NASDAQ:MNKD) Target Price at $9.56

MannKind Co. (NASDAQ:MNKD) has been assigned an average recommendation of “Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $10.00.

Several brokerages have recently weighed in on MNKD. Mizuho started coverage on MannKind in a report on Thursday, April 10th. They issued an “outperform” rating and a $12.00 price target on the stock. StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Finally, Wedbush reissued an “outperform” rating and set a $11.00 target price on shares of MannKind in a research note on Thursday, February 27th.

MannKind Stock Down 1.5%

NASDAQ MNKD opened at $4.56 on Monday. MannKind has a 52 week low of $4.28 and a 52 week high of $7.63. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 65.14 and a beta of 1.14. The company has a fifty day moving average of $4.89 and a two-hundred day moving average of $5.82.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $78.35 million for the quarter, compared to the consensus estimate of $75.86 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 EPS. Equities research analysts anticipate that MannKind will post 0.1 EPS for the current year.

Institutional Trading of MannKind

Institutional investors and hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in MannKind during the 4th quarter valued at about $37,000. Jones Financial Companies Lllp increased its holdings 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 valued at $42,000 after buying an additional 6,392 shares during the period. Blueshift Asset Management LLC bought a new position in MannKind in the first quarter worth approximately $51,000. Sowell Financial Services LLC bought a new position in MannKind in the first quarter worth approximately $56,000. Finally, Kovitz Investment Group Partners LLC purchased a new stake in MannKind during the fourth quarter worth $65,000. 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.