Carrera Capital Advisors Buys Shares of 159,165 MannKind Co. (NASDAQ:MNKD)

Carrera Capital Advisors purchased a new position in MannKind Co. (NASDAQ:MNKD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 159,165 shares of the biopharmaceutical company’s stock, valued at approximately $1,023,000.

A number of other hedge funds have also recently made changes to their positions in MNKD. Jones Financial Companies Lllp boosted its stake in MannKind by 3,294.8% in the fourth quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 6,392 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of MannKind by 22.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,816 shares during the last quarter. Beirne Wealth Consulting Services LLC acquired a new stake in shares of MannKind in the 4th quarter worth $66,000. Marshall Investment Management LLC purchased a new position in MannKind during the 4th quarter worth $69,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of MannKind during the fourth quarter worth about $70,000. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank of Canada raised shares of MannKind from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $7.00 to $10.00 in a research report on Thursday, December 19th. Wells Fargo & Company assumed coverage on shares of MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target for the company. StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of MannKind in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $9.21.

MannKind Price Performance

NASDAQ:MNKD opened at $5.15 on Wednesday. The firm has a market capitalization of $1.56 billion, a P/E ratio of 73.57 and a beta of 1.28. The company’s fifty day moving average price is $5.95 and its 200-day moving average price is $6.29. MannKind Co. has a 1-year low of $3.97 and a 1-year high of $7.63.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $76.78 million for the quarter, compared to the consensus estimate of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. Equities analysts anticipate that MannKind Co. will post 0.1 EPS for the current fiscal year.

MannKind Profile

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.