Brokerages Set MannKind Co. (NASDAQ:MNKD) Target Price at $9.21

MannKind Co. (NASDAQ:MNKD - Get Free Report) has received a consensus recommendation of "Buy" from the nine research firms that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $9.56.

A number of brokerages have weighed in on MNKD. Wells Fargo & Company initiated coverage on shares of MannKind in a research report on Friday, December 20th. They issued an "overweight" rating and a $9.00 target price on the stock. Mizuho began coverage on MannKind in a report on Thursday, April 10th. They set an "outperform" rating and a $12.00 price objective on the stock. Wedbush reaffirmed an "outperform" rating and issued a $11.00 target price on shares of MannKind in a report on Thursday, February 27th. StockNews.com raised MannKind from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada raised shares of MannKind from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $7.00 to $10.00 in a report on Thursday, December 19th.

Institutional Investors Weigh In On MannKind

Several large investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. acquired a new position in MannKind in the fourth quarter valued at approximately $37,000. Jones Financial Companies Lllp lifted its position in shares of MannKind by 3,294.8% during the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company's stock valued at $42,000 after acquiring an additional 6,392 shares during the period. Kovitz Investment Group Partners LLC bought a new position in MannKind during the fourth quarter worth $65,000. Beirne Wealth Consulting Services LLC acquired a new stake in MannKind in the fourth quarter worth $66,000. Finally, Marshall Investment Management LLC bought a new stake in MannKind in the fourth quarter valued at $69,000. Institutional investors and hedge funds own 49.55% of the company's stock.

MannKind Stock Performance

Shares of MannKind stock traded up $0.01 on Thursday, reaching $4.64. 1,314,420 shares of the stock were exchanged, compared to its average volume of 2,398,866. The firm's 50 day moving average is $5.16 and its 200-day moving average is $6.04. The firm has a market cap of $1.41 billion, a PE ratio of 66.29 and a beta of 1.22. MannKind has a one year low of $3.97 and a one year high of $7.63.

MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The business had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. On average, equities research analysts expect that MannKind will post 0.1 EPS 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.