Several other equities research analysts have also recently issued reports on MNKD. S&P Equity Research decreased their target price on shares of MannKind from $1.12 to $0.96 in a research report on Wednesday, January 27th. Zacks Investment Research raised shares of MannKind from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a research report on Monday, January 4th. Griffin Securities raised shares of MannKind from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Wednesday, January 6th. Vetr cut shares of MannKind from a “strong-buy” rating to a “buy” rating and set a $0.90 target price on the stock. in a research report on Wednesday, January 13th. Finally, JPMorgan Chase & Co. reissued a “sell” rating on shares of MannKind in a research report on Thursday, January 14th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. MannKind currently has an average rating of “Hold” and a consensus price target of $2.80.
Shares of MannKind (NASDAQ:MNKD) traded up 1.44% during mid-day trading on Tuesday, reaching $1.41. 6,674,960 shares of the company’s stock traded hands. The company’s 50 day moving average is $1.04 and its 200 day moving average is $2.11. MannKind has a 12-month low of $0.64 and a 12-month high of $7.32. The company’s market cap is $577.06 million.
MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Monday, March 14th. The biopharmaceutical company reported ($0.66) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.61. During the same period in the prior year, the business earned ($0.09) EPS. On average, analysts predict that MannKind will post ($0.27) EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of MNKD. Wells Fargo & Company MN raised its stake in MannKind by 5.7% in the fourth quarter. Wells Fargo & Company MN now owns 858,147 shares of the biopharmaceutical company’s stock worth $1,244,000 after buying an additional 45,960 shares in the last quarter. Morgan Stanley increased its stake in MannKind by 23.9% in the fourth quarter. Morgan Stanley now owns 2,388,919 shares of the biopharmaceutical company’s stock worth $3,463,000 after buying an additional 461,326 shares during the last quarter. Finally, Psagot Investment House Ltd. bought a new stake in MannKind during the fourth quarter worth $5,800,000.
MannKind Corporation (NASDAQ:MNKD) is a biopharmaceutical company focused on the discovery and development of therapeutic products for diseases, such as diabetes. The Company’s product candidate is AFREZZA, inhaled insulin used to control high blood sugar in adults with type one and type two diabetes and also to improve glycemic control.
Source: American Banking and Market News