MannKind’s (MNKD) Overweight Rating Reiterated at Cantor Fitzgerald

MannKind (NASDAQ:MNKD)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a report released on Thursday, Benzinga reports. They currently have a $6.50 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 49.08% from the stock’s current price.

Separately, Wedbush restated an “outperform” rating and set a $10.00 price target on shares of MannKind in a research report on Wednesday, February 28th.

MannKind Stock Performance

MannKind stock traded down $0.04 during mid-day trading on Thursday, reaching $4.36. The company’s stock had a trading volume of 997,209 shares, compared to its average volume of 2,834,241. MannKind has a 12-month low of $3.17 and a 12-month high of $5.75. The firm’s fifty day moving average price is $4.46 and its two-hundred day moving average price is $3.93. The company has a market capitalization of $1.18 billion, a P/E ratio of -86.60 and a beta of 1.34.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $66.26 million for the quarter, compared to analysts’ expectations of $60.55 million. The business’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same period last year, the company posted ($0.04) EPS. On average, research analysts predict that MannKind will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Teacher Retirement System of Texas increased its position in shares of MannKind by 4.7% in the third quarter. Teacher Retirement System of Texas now owns 75,049 shares of the biopharmaceutical company’s stock worth $310,000 after purchasing an additional 3,402 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 valued at $28,000 after purchasing an additional 3,428 shares during the period. Alps Advisors Inc. raised its holdings in shares of MannKind by 2.0% during the third quarter. Alps Advisors Inc. now owns 198,090 shares of the biopharmaceutical company’s stock valued at $818,000 after acquiring an additional 3,812 shares in the last quarter. Mission Wealth Management LP raised its holdings in shares of MannKind by 18.2% during the first quarter. Mission Wealth Management LP now owns 26,650 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 4,100 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of MannKind by 9.0% during the first quarter. ProShare Advisors LLC now owns 65,811 shares of the biopharmaceutical company’s stock valued at $298,000 after acquiring an additional 5,416 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors.

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.