Invesco Ltd. Sells 464,293 Shares of MannKind Co. (NASDAQ:MNKD)

Invesco Ltd. reduced its holdings in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 27.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,220,835 shares of the biopharmaceutical company's stock after selling 464,293 shares during the quarter. Invesco Ltd. owned 0.44% of MannKind worth $7,850,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MNKD. Jones Financial Companies Lllp grew its stake in shares of MannKind by 3,294.8% in the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company's stock worth $42,000 after acquiring an additional 6,392 shares in the last quarter. Beirne Wealth Consulting Services LLC bought a new stake in MannKind in the 4th quarter worth about $66,000. Marshall Investment Management LLC purchased a new stake in MannKind in the 4th quarter valued at about $69,000. Proficio Capital Partners LLC bought a new position in shares of MannKind during the 4th quarter worth approximately $70,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of MannKind in the 4th quarter worth approximately $86,000. 49.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wedbush reiterated an "outperform" rating and set a $11.00 price target on shares of MannKind in a report on Thursday, February 27th. StockNews.com raised shares of MannKind from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Finally, Mizuho began coverage on shares of MannKind in a research report on Thursday, April 10th. They set an "outperform" rating and a $12.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $9.56.

MannKind Trading Up 2.6 %

Shares of MannKind stock traded up $0.13 on Wednesday, hitting $5.04. 2,008,339 shares of the company traded hands, compared to its average volume of 2,391,322. MannKind Co. has a 12-month low of $4.15 and a 12-month high of $7.63. The company has a market cap of $1.53 billion, a P/E ratio of 72.00 and a beta of 1.22. The firm's 50-day simple moving average is $4.96 and its 200 day simple moving average is $5.92.

MannKind (NASDAQ:MNKD - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. Analysts predict that MannKind Co. will post 0.1 earnings per share for the current 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.