MannKind (NASDAQ:MNKD) Trading 4.9% Higher

MannKind Co. (NASDAQ:MNKD - Get Free Report) was up 4.9% during mid-day trading on Friday . The company traded as high as $4.54 and last traded at $4.52. Approximately 959,988 shares changed hands during trading, a decline of 70% from the average daily volume of 3,162,381 shares. The stock had previously closed at $4.31.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MNKD shares. Wedbush reissued an "outperform" rating and set a $10.00 price target on shares of MannKind in a report on Wednesday, February 28th. HC Wainwright reissued a "buy" rating and set a $7.50 price target on shares of MannKind in a report on Thursday, January 4th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $6.50 price objective on shares of MannKind in a report on Friday, March 15th.

MannKind Trading Up 3.0 %

The stock has a fifty day simple moving average of $4.13 and a two-hundred day simple moving average of $3.90. The company has a market cap of $1.20 billion, a PE ratio of -88.80 and a beta of 1.28.

MannKind (NASDAQ:MNKD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. The business had revenue of $58.47 million during the quarter, compared to analysts' expectations of $52.36 million. As a group, equities research analysts anticipate that MannKind Co. will post 0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On MannKind

A number of hedge funds and other institutional investors have recently modified their holdings of MNKD. International Assets Investment Management LLC acquired a new stake in shares of MannKind during the 1st quarter valued at approximately $39,000. Raymond James & Associates lifted its position in shares of MannKind by 2.8% during the 1st quarter. Raymond James & Associates now owns 348,080 shares of the biopharmaceutical company's stock valued at $1,281,000 after acquiring an additional 9,594 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of MannKind by 431.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 112,918 shares of the biopharmaceutical company's stock worth $416,000 after purchasing an additional 91,652 shares during the last quarter. US Bancorp DE raised its position in shares of MannKind by 53.2% during the 1st quarter. US Bancorp DE now owns 14,257 shares of the biopharmaceutical company's stock worth $52,000 after purchasing an additional 4,952 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of MannKind by 18.3% during the 1st quarter. HighTower Advisors LLC now owns 32,267 shares of the biopharmaceutical company's stock worth $116,000 after purchasing an additional 5,000 shares during the last quarter. 49.55% of the stock is currently owned by institutional investors and hedge funds.

About MannKind

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.