Wedbush Reaffirms “Outperform” Rating for MannKind (NASDAQ:MNKD)

MannKind (NASDAQ:MNKD)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research report issued on Thursday,RTT News reports. They presently have a $11.00 price target on the biopharmaceutical company’s stock. Wedbush’s price target suggests a potential upside of 110.12% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Wells Fargo & Company began coverage on shares of MannKind in a research report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target on the stock. Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. Finally, StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, MannKind currently has an average rating of “Buy” and a consensus price target of $9.21.

MannKind Stock Down 4.3 %

MannKind stock traded down $0.24 during mid-day trading on Thursday, hitting $5.24. The company’s stock had a trading volume of 1,981,440 shares, compared to its average volume of 1,914,899. The stock has a market capitalization of $1.44 billion, a P/E ratio of 74.64 and a beta of 1.28. MannKind has a twelve month low of $3.86 and a twelve month high of $7.63. The stock’s fifty day moving average price is $6.04 and its two-hundred day moving average price is $6.28.

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

Institutional Investors Weigh In On MannKind

Large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in MannKind in the fourth quarter valued at $37,000. Jones Financial Companies Lllp lifted its stake in MannKind by 3,294.8% in the fourth quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 6,392 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of MannKind by 22.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,816 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of MannKind during the 4th quarter worth about $65,000. Finally, Beirne Wealth Consulting Services LLC acquired a new stake in shares of MannKind during the 4th quarter worth about $66,000. Institutional investors own 49.55% of the company’s stock.

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.