Federated Hermes Inc. Has $12.55 Million Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Federated Hermes Inc. lifted its holdings in MannKind Co. (NASDAQ:MNKD) by 2.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,951,339 shares of the biopharmaceutical company’s stock after purchasing an additional 47,058 shares during the quarter. Federated Hermes Inc.’s holdings in MannKind were worth $12,547,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Jones Financial Companies Lllp boosted its position in MannKind by 3,294.8% during the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 6,392 shares during the last quarter. Beirne Wealth Consulting Services LLC acquired a new position in MannKind during the 4th quarter worth approximately $66,000. Proficio Capital Partners LLC acquired a new position in MannKind during the 4th quarter worth approximately $70,000. Marshall Investment Management LLC acquired a new position in MannKind during the 4th quarter worth approximately $69,000. Finally, Los Angeles Capital Management LLC acquired a new position in MannKind during the 4th quarter worth approximately $86,000. 49.55% of the stock is currently owned by institutional investors and hedge funds.

MannKind Trading Up 1.5 %

MNKD opened at $4.69 on Thursday. MannKind Co. has a 1-year low of $3.97 and a 1-year high of $7.63. The stock’s fifty day simple moving average is $5.24 and its 200 day simple moving average is $6.09. The stock has a market cap of $1.43 billion, a PE ratio of 67.00 and a beta of 1.22.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MNKD. Wells Fargo & Company began coverage on MannKind in a research report on Friday, December 20th. They set an “overweight” rating and a $9.00 price target for the company. Royal Bank of Canada raised MannKind from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th. Finally, StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $9.21.

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.