D. E. Shaw & Co. Inc. Raises Stock Position in MannKind Co. (NASDAQ:MNKD)

D. E. Shaw & Co. Inc. increased its holdings in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 23.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,269,063 shares of the biopharmaceutical company's stock after purchasing an additional 798,469 shares during the period. D. E. Shaw & Co. Inc. owned approximately 1.55% of MannKind worth $27,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of MannKind by 186.0% during the third 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 last quarter. Victory Capital Management Inc. increased its holdings in MannKind by 358.6% in the fourth quarter. Victory Capital Management Inc. now owns 219,367 shares of the biopharmaceutical company's stock valued at $1,411,000 after buying an additional 171,537 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in MannKind by 275.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock valued at $31,427,000 after buying an additional 3,587,484 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in MannKind by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,270,106 shares of the biopharmaceutical company's stock valued at $14,597,000 after buying an additional 45,277 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in MannKind by 3.0% in the third quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company's stock valued at $1,047,000 after buying an additional 4,603 shares in the last quarter. Hedge funds and other institutional investors own 49.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. 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 for the company. StockNews.com raised shares of MannKind from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $11.00 price objective on shares of MannKind in a report on Thursday, February 27th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $10.00.

MannKind Price Performance

MNKD traded down $0.15 on Wednesday, reaching $4.57. 1,277,193 shares of the company's stock were exchanged, compared to its average volume of 2,384,011. The stock has a market cap of $1.39 billion, a PE ratio of 65.29 and a beta of 1.14. MannKind Co. has a twelve month low of $4.34 and a twelve month high of $7.63. The stock's fifty day moving average price is $4.87 and its 200-day moving average price is $5.79.

MannKind (NASDAQ:MNKD - Get Free Report) last posted 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. The firm had revenue of $78.35 million for the quarter, compared to analyst estimates of $75.86 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. MannKind's quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 earnings per share. As a group, research analysts predict 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.