MannKind's (MNKD) Overweight Rating Reaffirmed at Cantor Fitzgerald

MannKind (NASDAQ:MNKD - Get Free Report)'s stock had its "overweight" rating reaffirmed by stock analysts at Cantor Fitzgerald in a report released on Thursday, Benzinga reports. They currently have a $6.50 price target on the biopharmaceutical company's stock. Cantor Fitzgerald's target price would suggest a potential upside of 50.81% from the stock's current price.

Separately, Wedbush reiterated an "outperform" rating and set a $10.00 price objective on shares of MannKind in a report on Wednesday, February 28th.

MannKind Stock Performance

Shares of MNKD stock traded down $0.09 during trading hours on Thursday, hitting $4.31. 2,358,024 shares of the company were exchanged, compared to its average volume of 2,851,117. The business's 50-day simple moving average is $4.46 and its two-hundred day simple moving average is $3.93. MannKind has a one year low of $3.17 and a one year high of $5.75. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -87.20 and a beta of 1.34.

MannKind (NASDAQ:MNKD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $66.26 million for the quarter, compared to analyst estimates of $60.55 million. MannKind's quarterly revenue was up 63.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) EPS. As a group, analysts anticipate that MannKind will post 0.1 EPS for the current fiscal year.

Institutional Trading of MannKind

A number of institutional investors and hedge funds have recently modified their holdings of MNKD. China Universal Asset Management Co. Ltd. grew its stake in MannKind by 99.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,892 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 3,428 shares during the period. Fountainhead AM LLC acquired a new stake in shares of MannKind during the 3rd quarter worth $41,000. 9258 Wealth Management LLC acquired a new stake in MannKind in the first quarter valued at approximately $51,000. Great Valley Advisor Group Inc. purchased a new position in shares of MannKind in the 3rd quarter worth about $54,000. Finally, AJOVista LLC bought a new stake in shares of MannKind in the 4th quarter worth approximately $71,000. Hedge funds and other institutional investors own 49.55% of the company's stock.

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.