Raymond James Financial Services Advisors Inc. Lowers Position in MannKind Co. (NASDAQ:MNKD)

Raymond James Financial Services Advisors Inc. trimmed its position in shares of MannKind Co. (NASDAQ:MNKD) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,552 shares of the biopharmaceutical company’s stock after selling 15,381 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.05% of MannKind worth $504,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MNKD. Raymond James & Associates grew its holdings in MannKind by 10.2% in the fourth quarter. Raymond James & Associates now owns 370,212 shares of the biopharmaceutical company’s stock valued at $1,348,000 after purchasing an additional 34,386 shares during the period. SG Americas Securities LLC grew its stake in MannKind by 135.3% in the 4th quarter. SG Americas Securities LLC now owns 166,770 shares of the biopharmaceutical company’s stock valued at $607,000 after acquiring an additional 95,893 shares during the period. Deutsche Bank AG increased its holdings in MannKind by 18.2% in the 3rd quarter. Deutsche Bank AG now owns 136,349 shares of the biopharmaceutical company’s stock worth $563,000 after acquiring an additional 20,956 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in MannKind by 28.3% during the third quarter. The Manufacturers Life Insurance Company now owns 134,399 shares of the biopharmaceutical company’s stock worth $555,000 after acquiring an additional 29,629 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in MannKind during the third quarter valued at $673,000. 49.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MNKD has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $7.50 target price on shares of MannKind in a research note on Thursday, January 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $6.50 target price on shares of MannKind in a research report on Friday, March 15th. Finally, Wedbush reiterated an “outperform” rating and set a $10.00 price target on shares of MannKind in a research report on Wednesday, February 28th.

MannKind Trading Up 2.5 %

Shares of NASDAQ MNKD opened at $4.18 on Friday. The company has a 50-day moving average of $4.29 and a 200 day moving average of $3.91. MannKind Co. has a 12-month low of $3.17 and a 12-month high of $5.75. The stock has a market cap of $1.13 billion, a PE ratio of -83.60 and a beta of 1.28.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $52.36 million. On average, sell-side analysts forecast that MannKind Co. will post 0.09 EPS for the current fiscal year.

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.