Brokerages Set MannKind Corp. (MNKD) Target Price at $1.27
MannKind Corp. (NASDAQ:MNKD) has received an average rating of “Hold” from the nine brokerages that are presently covering the firm. Four investment analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $1.27.
Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of MannKind Corp. in a report on Friday, November 11th. S&P Equity Research reduced their target price on MannKind Corp. from $0.84 to $0.70 in a report on Wednesday, August 31st. Finally, Piper Jaffray Cos. set a $0.10 target price on MannKind Corp. and gave the stock a “sell” rating in a report on Sunday, August 21st.
A number of large investors have recently modified their holdings of MNKD. BlackRock Fund Advisors increased its stake in shares of MannKind Corp. by 6.1% in the first quarter. BlackRock Fund Advisors now owns 11,641,028 shares of the biopharmaceutical company’s stock worth $18,742,000 after buying an additional 673,881 shares during the period. California State Teachers Retirement System increased its stake in shares of MannKind Corp. by 30.1% in the second quarter. California State Teachers Retirement System now owns 679,996 shares of the biopharmaceutical company’s stock valued at $789,000 after buying an additional 157,330 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of MannKind Corp. by 11.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,950,000 shares of the biopharmaceutical company’s stock valued at $2,301,000 after buying an additional 200,000 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of MannKind Corp. by 22.0% in the second quarter. Bank of New York Mellon Corp now owns 1,372,029 shares of the biopharmaceutical company’s stock valued at $1,592,000 after buying an additional 247,858 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of MannKind Corp. by 6.4% in the second quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company’s stock valued at $537,000 after buying an additional 28,000 shares during the last quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.
Shares of MannKind Corp. (NASDAQ:MNKD) opened at 0.623 on Tuesday. The firm has a 50-day moving average price of $0.55 and a 200 day moving average price of $0.86. The stock’s market cap is $298.03 million. MannKind Corp. has a 12-month low of $0.41 and a 12-month high of $2.45.
MannKind Corp. (NASDAQ:MNKD) last posted its quarterly earnings results on Wednesday, November 9th. The biopharmaceutical company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.31. The business had revenue of $162.35 million for the quarter, compared to the consensus estimate of $2 million. Equities research analysts expect that MannKind Corp. will post ($0.01) earnings per share for the current year.
About MannKind Corp.
MannKind Corporation is a biopharmaceutical company. The Company is focused on the discovery and development of therapeutic products for diseases, such as diabetes. Its product candidate is AFREZZA, which is an inhaled insulin used to control high blood sugar in adults with type I and type II diabetes and helps in glycemic control.
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