D. E. Shaw & Co. Inc. Has $27.45 Million Holdings in MannKind Co. (NASDAQ:MNKD)

D. E. Shaw & Co. Inc. grew its position in shares of MannKind Co. (NASDAQ:MNKD) by 23.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,269,063 shares of the biopharmaceutical company’s stock after acquiring an additional 798,469 shares during the quarter. D. E. Shaw & Co. Inc. owned about 1.55% of MannKind worth $27,450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Jones Financial Companies Lllp raised its holdings 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 buying an additional 6,392 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of MannKind in the 4th quarter worth approximately $65,000. Beirne Wealth Consulting Services LLC bought a new stake in shares of MannKind during the fourth quarter valued at approximately $66,000. Marshall Investment Management LLC bought a new stake in shares of MannKind during the fourth quarter valued at approximately $69,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of MannKind during the fourth quarter valued at approximately $70,000. 49.55% of the stock is owned by hedge funds and other institutional investors.

MannKind Stock Performance

NASDAQ MNKD opened at $4.56 on Monday. The stock’s fifty day moving average is $4.89 and its two-hundred day moving average is $5.82. The firm has a market capitalization of $1.39 billion, a P/E ratio of 65.14 and a beta of 1.14. MannKind Co. has a fifty-two week low of $4.28 and a fifty-two week high of $7.63.

MannKind (NASDAQ:MNKD) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $78.35 million for the quarter, compared to analyst estimates of $75.86 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. As a group, sell-side analysts forecast that MannKind Co. will post 0.1 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th. StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Finally, Mizuho assumed coverage on shares of MannKind in a report on Thursday, April 10th. They issued an “outperform” rating and a $12.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $10.00.

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.