MannKind Co. (NASDAQ:MNKD) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 66.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 783,474 shares of the biopharmaceutical company's stock after acquiring an additional 311,672 shares during the period. BNP Paribas Financial Markets owned about 0.28% of MannKind worth $5,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MNKD. Barclays PLC increased its holdings in MannKind by 186.0% during the 3rd quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company's stock worth $3,271,000 after purchasing an additional 338,121 shares during the period. Victory Capital Management Inc. increased its holdings in MannKind by 358.6% during the 4th quarter. Victory Capital Management Inc. now owns 219,367 shares of the biopharmaceutical company's stock worth $1,411,000 after purchasing an additional 171,537 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in MannKind by 275.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock worth $31,427,000 after purchasing an additional 3,587,484 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in MannKind by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,270,106 shares of the biopharmaceutical company's stock worth $14,597,000 after purchasing an additional 45,277 shares during the period. Finally, Franklin Resources Inc. increased its holdings in MannKind by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company's stock worth $1,047,000 after purchasing an additional 4,603 shares during the period. 49.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MNKD shares. StockNews.com upgraded MannKind from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Mizuho started coverage on MannKind in a report on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price target on the stock. Finally, Wedbush reiterated an "outperform" rating and issued a $11.00 price target on shares of MannKind in a report on Thursday, February 27th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $10.00.

Insiders Place Their Bets

In other news, EVP David Thomson sold 32,179 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $4.68, for a total value of $150,597.72. Following the completion of the transaction, the executive vice president now owns 772,427 shares of the company's stock, valued at $3,614,958.36. The trade was a 4.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven B. Binder sold 80,144 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $4.69, for a total value of $375,875.36. Following the completion of the transaction, the director now directly owns 1,006,611 shares of the company's stock, valued at approximately $4,721,005.59. This trade represents a 7.37% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

MannKind Stock Performance

MNKD stock traded down $0.19 on Friday, hitting $4.37. 2,907,836 shares of the company's stock were exchanged, compared to its average volume of 2,383,257. MannKind Co. has a 12-month low of $4.34 and a 12-month high of $7.63. The firm has a 50 day moving average price of $4.84 and a two-hundred day moving average price of $5.76. The stock has a market cap of $1.33 billion, a P/E ratio of 62.43 and a beta of 1.14.

MannKind (NASDAQ:MNKD - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The firm had revenue of $78.35 million for the quarter, compared to the consensus estimate of $75.86 million. During the same period in the previous year, the business earned $0.05 EPS. The firm's revenue for the quarter was up 18.1% on a year-over-year basis. Sell-side analysts expect that MannKind Co. will post 0.1 earnings per share for the current fiscal 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.