Analysts Set MannKind Co. (NASDAQ:MNKD) PT at $9.21

Shares of MannKind Co. (NASDAQ:MNKD) have been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $9.21.

MNKD has been the subject of a number of research analyst reports. StockNews.com downgraded shares of MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $7.00 to $10.00 in a research report on Thursday, December 19th. Wells Fargo & Company began coverage on MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target on the stock. Finally, Wedbush initiated coverage on MannKind in a report on Monday, February 10th. They set an “outperform” rating and a $11.00 price objective for the company.

Hedge Funds Weigh In On MannKind

Institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new position in MannKind in the fourth quarter valued at $37,000. Jones Financial Companies Lllp increased 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 valued at $42,000 after acquiring an additional 6,392 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of MannKind by 22.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 1,816 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in shares of MannKind in the fourth quarter worth approximately $65,000. Finally, Beirne Wealth Consulting Services LLC purchased a new stake in MannKind in the fourth quarter valued at approximately $66,000. 49.55% of the stock is owned by institutional investors and hedge funds.

MannKind Stock Performance

NASDAQ:MNKD opened at $5.77 on Wednesday. MannKind has a 1 year low of $3.47 and a 1 year high of $7.63. The stock has a fifty day moving average price of $6.06 and a two-hundred day moving average price of $6.28. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 82.36 and a beta of 1.28.

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.