263,302 Shares in MannKind Co. (NASDAQ:MNKD) Purchased by Mariner LLC

Mariner LLC acquired a new stake in MannKind Co. (NASDAQ:MNKD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 263,302 shares of the biopharmaceutical company's stock, valued at approximately $1,693,000. Mariner LLC owned about 0.10% of MannKind as of its most recent SEC filing.

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

Analysts Set New Price Targets

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

MannKind Stock Performance

Shares of NASDAQ MNKD traded up $0.13 during mid-day trading on Wednesday, hitting $5.04. The stock had a trading volume of 2,008,339 shares, compared to its average volume of 2,391,322. The business has a 50 day moving average price of $4.96 and a two-hundred day moving average price of $5.92. The firm has a market cap of $1.53 billion, a P/E ratio of 72.00 and a beta of 1.22. MannKind Co. has a 1 year low of $4.15 and a 1 year high of $7.63.

MannKind (NASDAQ:MNKD - Get Free Report) last released its 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 company had revenue of $76.78 million during the quarter, compared to analyst estimates of $74.99 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. Equities research analysts predict that MannKind Co. will post 0.1 EPS for the current fiscal year.

MannKind 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.