MannKind Co. (NASDAQ:MNKD) Stake Raised by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in MannKind Co. (NASDAQ:MNKD) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,901,780 shares of the biopharmaceutical company’s stock after acquiring an additional 16,410 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.69% of MannKind worth $12,228,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MNKD. Principal Financial Group Inc. increased its position in MannKind by 401.8% in the 3rd quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company’s stock worth $1,060,000 after purchasing an additional 134,937 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in MannKind in the 3rd quarter worth about $12,252,000. Barclays PLC increased its position in MannKind by 186.0% in the 3rd quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company’s stock worth $3,271,000 after purchasing an additional 338,121 shares during the last quarter. Parkman Healthcare Partners LLC increased its position in MannKind by 37.1% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 3,304,085 shares of the biopharmaceutical company’s stock worth $20,783,000 after purchasing an additional 894,486 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in MannKind by 421.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 471,802 shares of the biopharmaceutical company’s stock worth $2,968,000 after purchasing an additional 381,298 shares during the last quarter. 49.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company assumed coverage on MannKind in a research report on Friday, December 20th. They issued an “overweight” rating and a $9.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of MannKind in a research report on Thursday, February 27th. Royal Bank of Canada raised 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 report on Thursday, December 19th. Finally, StockNews.com raised MannKind from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $9.21.

MannKind Stock Up 1.0 %

MNKD opened at $5.20 on Friday. The firm has a market capitalization of $1.58 billion, a P/E ratio of 74.29 and a beta of 1.27. The stock’s 50 day moving average price is $5.70 and its two-hundred day moving average price is $6.26. MannKind Co. has a 12-month low of $3.97 and a 12-month high of $7.63.

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

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.