MannKind Co. (NASDAQ:MNKD) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in shares of MannKind Co. (NASDAQ:MNKD) by 275.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,887,609 shares of the biopharmaceutical company’s stock after acquiring an additional 3,587,484 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.77% of MannKind worth $31,427,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. acquired a new stake in shares of MannKind during the third quarter worth $12,252,000. Two Sigma Advisers LP grew its holdings in MannKind by 60.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company’s stock valued at $16,658,000 after buying an additional 1,000,600 shares during the period. Parkman Healthcare Partners LLC increased its stake in shares of MannKind by 37.1% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 3,304,085 shares of the biopharmaceutical company’s stock valued at $20,783,000 after acquiring an additional 894,486 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of MannKind during the 4th quarter worth about $4,209,000. Finally, Vanguard Group Inc. boosted its position in shares of MannKind by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 16,058,557 shares of the biopharmaceutical company’s stock worth $103,257,000 after acquiring an additional 420,334 shares during the last quarter. 49.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Wells Fargo & Company started 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. Royal Bank of Canada raised MannKind from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $7.00 to $10.00 in a research report on Thursday, December 19th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MannKind currently has an average rating of “Buy” and a consensus target price of $9.21.

MannKind Price Performance

Shares of NASDAQ MNKD opened at $5.02 on Thursday. MannKind Co. has a 1-year low of $3.97 and a 1-year high of $7.63. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 71.71 and a beta of 1.22. The business has a 50-day moving average of $5.42 and a 200-day moving average of $6.18.

MannKind (NASDAQ:MNKD) last released its quarterly 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. The firm had revenue of $76.78 million during the quarter, compared to analysts’ expectations of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. Research analysts expect that MannKind Co. will post 0.1 EPS for the current fiscal year.

MannKind 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.