Graham Capital Management L.P. Makes New Investment in MannKind Co. (NASDAQ:MNKD)

Graham Capital Management L.P. acquired a new stake in shares of MannKind Co. (NASDAQ:MNKD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,590,761 shares of the biopharmaceutical company’s stock, valued at approximately $10,229,000. Graham Capital Management L.P. owned approximately 0.58% of MannKind as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted 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 period. Kovitz Investment Group Partners LLC acquired a new stake in shares of MannKind during the fourth quarter worth about $65,000. Beirne Wealth Consulting Services LLC purchased a new stake in MannKind in the fourth quarter valued at approximately $66,000. Proficio Capital Partners LLC acquired a new position in MannKind in the 4th quarter worth approximately $70,000. Finally, Marshall Investment Management LLC purchased a new position in MannKind during the 4th quarter worth approximately $69,000. 49.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

MannKind Stock Performance

MNKD opened at $4.56 on Friday. The company has a fifty day moving average of $4.89 and a two-hundred day moving average of $5.83. MannKind Co. has a fifty-two week low of $4.23 and a fifty-two week high of $7.63. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 65.14 and a beta of 1.14.

MannKind (NASDAQ:MNKD) last released its quarterly 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. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The company had revenue of $78.35 million during the quarter, compared to analysts’ expectations of $75.86 million. During the same quarter in the prior year, the firm posted $0.05 EPS. MannKind’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, equities research analysts forecast 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.