Brokerages Set MannKind Co. (NASDAQ:MNKD) Target Price at $9.21

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

A number of equities analysts have recently weighed in on MNKD shares. Wedbush reaffirmed an “outperform” rating and set a $11.00 target price on shares of MannKind in a research report on Thursday, February 27th. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $7.00 to $10.00 in a report on Thursday, December 19th. Wells Fargo & Company began coverage on MannKind in a report on Friday, December 20th. They set an “overweight” rating and a $9.00 price target for the company. Finally, StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a report on Wednesday.

MannKind Stock Performance

Shares of MNKD opened at $5.22 on Friday. MannKind has a 52-week low of $3.97 and a 52-week high of $7.63. The business’s 50 day moving average price is $5.58 and its two-hundred day moving average price is $6.24. The firm has a market cap of $1.58 billion, a PE ratio of 74.57 and a beta of 1.27.

MannKind (NASDAQ:MNKD) last issued its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $74.99 million. Research analysts predict that MannKind will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new position in MannKind in the 4th quarter valued at $37,000. Jones Financial Companies Lllp grew its stake in shares of MannKind by 3,294.8% during the 4th 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 bought a new position in shares of MannKind during the 4th quarter worth $65,000. Beirne Wealth Consulting Services LLC bought a new position in shares of MannKind during the 4th quarter worth $66,000. Finally, Marshall Investment Management LLC bought a new position in shares of MannKind during the 4th quarter worth $69,000. Institutional investors own 49.55% of the company’s stock.

MannKind Company Profile

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.