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

Shares of MannKind Co. (NASDAQ:MNKD) have been assigned a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $9.21.

A number of equities analysts have issued reports on the stock. StockNews.com lowered shares of MannKind from a “buy” rating to a “hold” rating in a research report on Saturday, December 7th. Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $7.00 to $10.00 in a report on Thursday, December 19th. Wedbush began coverage on shares of MannKind in a research note on Monday, February 10th. They issued an “outperform” rating and a $11.00 price target for the company. Finally, Wells Fargo & Company assumed coverage on MannKind in a research note on Friday, December 20th. They issued an “overweight” rating and a $9.00 price objective on the stock.

Institutional Trading of MannKind

A number of institutional investors have recently bought and sold shares of MNKD. Arrowstreet Capital Limited Partnership raised its position in shares of MannKind by 275.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company’s stock worth $31,427,000 after acquiring an additional 3,587,484 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of MannKind in the 3rd quarter valued at $12,252,000. Millennium Management LLC grew its position in shares of MannKind by 108.8% in the 4th quarter. Millennium Management LLC now owns 3,447,392 shares of the biopharmaceutical company’s stock valued at $22,167,000 after buying an additional 1,796,442 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in MannKind during the 4th quarter worth $10,229,000. Finally, Two Sigma Advisers LP lifted its position in MannKind by 60.7% in the third quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company’s stock valued at $16,658,000 after acquiring an additional 1,000,600 shares during the last quarter. 49.55% of the stock is owned by hedge funds and other institutional investors.

MannKind Price 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 company has a market cap of $1.59 billion, a price-to-earnings ratio of 82.36 and a beta of 1.28. The stock’s fifty day moving average price is $6.06 and its 200 day moving average price is $6.28.

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.