Other analysts have also recently issued reports about the company. HC Wainwright dropped their price target on MannKind from $4.00 to $3.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Svb Leerink initiated coverage on MannKind in a research report on Monday, March 4th. They issued an outperform rating and a $3.00 price target on the stock. Leerink Swann initiated coverage on MannKind in a research report on Monday, March 4th. They issued an outperform rating and a $3.00 price target on the stock. Finally, ValuEngine cut MannKind from a hold rating to a sell rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $2.81.
Shares of MNKD opened at $1.25 on Friday. MannKind has a 52 week low of $0.94 and a 52 week high of $3.04. The company has a market capitalization of $251.63 million, a PE ratio of -2.12 and a beta of 2.56.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Greatmark Investment Partners Inc. purchased a new position in MannKind in the 1st quarter worth approximately $25,000. CAPROCK Group Inc. purchased a new position in MannKind in the 4th quarter worth approximately $42,000. Virtu Financial LLC purchased a new position in MannKind in the 4th quarter worth approximately $50,000. Cambridge Investment Research Advisors Inc. raised its holdings in MannKind by 196.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 55,407 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 36,694 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in MannKind by 91.5% in the 1st quarter. Janus Henderson Group PLC now owns 32,976 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 15,757 shares during the last quarter. Institutional investors own 30.16% of the company’s stock.
MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.
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