MannKind (NASDAQ:MNKD) Research Coverage Started at Wedbush

Wedbush started coverage on shares of MannKind (NASDAQ:MNKD) in a report published on Monday, MarketBeat Ratings reports. The firm issued an outperform rating and a $11.00 target price on the biopharmaceutical company’s stock.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company began coverage on shares of MannKind in a research report on Friday, December 20th. They set an “overweight” rating and a $9.00 price objective for the company. StockNews.com downgraded shares of MannKind from a “buy” rating to a “hold” rating in a research report on Saturday, December 7th. Finally, Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $9.21.

MannKind Price Performance

MNKD stock opened at $5.60 on Monday. The company has a fifty day moving average price of $6.22 and a 200 day moving average price of $6.27. MannKind has a 12 month low of $3.38 and a 12 month high of $7.63. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 80.00 and a beta of 1.28.

Insider Transactions at MannKind

In other news, Director Steven B. Binder sold 67,536 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $6.89, for a total transaction of $465,323.04. Following the transaction, the director now directly owns 1,075,026 shares of the company’s stock, valued at $7,406,929.14. This represents a 5.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On MannKind

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new stake in MannKind in the 2nd quarter valued at about $67,000. AQR Capital Management LLC grew its stake in MannKind by 8.1% in the 2nd quarter. AQR Capital Management LLC now owns 42,730 shares of the biopharmaceutical company’s stock valued at $223,000 after acquiring an additional 3,214 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in MannKind by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,435 shares of the biopharmaceutical company’s stock valued at $529,000 after acquiring an additional 3,374 shares during the last quarter. SG Americas Securities LLC acquired a new stake in MannKind in the 3rd quarter valued at about $546,000. Finally, nVerses Capital LLC acquired a new stake in MannKind in the 3rd quarter valued at about $114,000. 49.55% of the stock is owned by institutional investors and hedge funds.

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.