Equities research analysts at BTIG Research initiated coverage on shares of MannKind (NASDAQ:MNKD) in a note issued to investors on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $3.00 price target on the biopharmaceutical company’s stock. BTIG Research’s price objective points to a potential upside of 127.27% from the company’s current price.

MNKD has been the subject of several other reports. BidaskClub raised MannKind from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Svb Leerink initiated coverage on MannKind in a report on Monday, March 4th. They issued an “outperform” rating and a $3.00 target price for the company. Leerink Swann initiated coverage on MannKind in a report on Monday, March 4th. They issued an “outperform” rating and a $3.00 target price for the company. ValuEngine downgraded MannKind from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Finally, HC Wainwright reduced their target price on MannKind from $4.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. MannKind presently has a consensus rating of “Hold” and a consensus price target of $2.85.

Shares of NASDAQ MNKD opened at $1.32 on Tuesday. The stock has a market cap of $247.87 million, a price-to-earnings ratio of -2.24 and a beta of 2.56. MannKind has a 1 year low of $0.94 and a 1 year high of $3.04.

MannKind (NASDAQ:MNKD) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. The firm had revenue of $17.45 million during the quarter, compared to analysts’ expectations of $18.03 million. During the same period in the previous year, the firm posted ($0.25) earnings per share. As a group, sell-side analysts predict that MannKind will post -0.27 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Greatmark Investment Partners Inc. purchased a new stake in MannKind during the 1st quarter valued at approximately $25,000. CAPROCK Group Inc. purchased a new stake in MannKind during the 4th quarter valued at approximately $42,000. Virtu Financial LLC purchased a new stake in MannKind during the 4th quarter valued at approximately $50,000. SEI Investments Co purchased a new stake in MannKind during the 1st quarter valued at approximately $58,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in MannKind by 196.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 55,407 shares of the biopharmaceutical company’s stock valued at $59,000 after acquiring an additional 36,694 shares during the last quarter. 30.26% of the stock is owned by institutional investors and hedge funds.

MannKind Company Profile

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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Analyst Recommendations for MannKind (NASDAQ:MNKD)

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