MannKind Co. (NASDAQ:MNKD) gapped up prior to trading on Thursday . The stock had previously closed at $2.06, but opened at $2.11. MannKind shares last traded at $2.24, with a volume of 5466583 shares changing hands.
Several equities research analysts have recently weighed in on the company. BidaskClub upgraded MannKind from a “hold” rating to a “buy” rating in a research note on Thursday. Leerink Swann assumed coverage on MannKind in a research note on Monday, March 4th. They issued an “outperform” rating and a $3.00 price objective on the stock. Svb Leerink assumed coverage on MannKind in a research note on Monday, March 4th. They issued an “outperform” rating and a $3.00 price objective on the stock. Finally, ValuEngine upgraded MannKind from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $3.06.
The firm has a market capitalization of $391.55 million, a P/E ratio of -3.80 and a beta of 2.68.
Institutional investors and hedge funds have recently made changes to their positions in the company. CAPROCK Group Inc. acquired a new position in shares of MannKind in the 4th quarter worth approximately $42,000. Virtu Financial LLC acquired a new position in shares of MannKind in the 4th quarter worth approximately $50,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of MannKind by 196.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 55,407 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 36,694 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of MannKind by 82.3% in the 2nd quarter. Bank of America Corp DE now owns 123,414 shares of the biopharmaceutical company’s stock worth $235,000 after acquiring an additional 55,721 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in MannKind by 300.5% during the 3rd quarter. Alliancebernstein L.P. now owns 154,600 shares of the biopharmaceutical company’s stock worth $283,000 after buying an additional 116,000 shares in the last quarter. 33.37% of the stock is currently owned by institutional investors and hedge funds.
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About MannKind (NASDAQ:MNKD)
MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.
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