MannKind (MNKD) Given a $4.00 Price Target at HC Wainwright

MannKind (NASDAQ:MNKD) received a $4.00 price objective from equities research analysts at HC Wainwright in a research note issued to investors on Tuesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 113.90% from the company’s previous close.

Several other brokerages have also commented on MNKD. BidaskClub upgraded shares of MannKind from a “sell” rating to a “hold” rating in a report on Friday, June 1st. ValuEngine upgraded shares of MannKind from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Maxim Group restated a “sell” rating on shares of MannKind in a report on Friday, June 15th. Finally, Zacks Investment Research lowered shares of MannKind from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. MannKind has a consensus rating of “Hold” and a consensus target price of $2.51.

Shares of MNKD opened at $1.87 on Tuesday. The company has a current ratio of 0.48, a quick ratio of 0.43 and a debt-to-equity ratio of -0.44. MannKind has a one year low of $0.98 and a one year high of $6.96.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.04. The company had revenue of $3.89 million during the quarter, compared to analysts’ expectations of $4.80 million. sell-side analysts predict that MannKind will post -0.76 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Scopia Capital Management LP increased its stake in shares of MannKind by 47.5% during the second quarter. Scopia Capital Management LP now owns 1,666,498 shares of the biopharmaceutical company’s stock valued at $3,166,000 after purchasing an additional 537,045 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of MannKind by 31.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 248,110 shares of the biopharmaceutical company’s stock valued at $566,000 after purchasing an additional 59,682 shares in the last quarter. Rhumbline Advisers bought a new position in shares of MannKind during the second quarter valued at approximately $249,000. Marathon Trading Investment Management LLC bought a new position in shares of MannKind during the second quarter valued at approximately $177,000. Finally, Millennium Management LLC increased its stake in shares of MannKind by 544.7% during the first quarter. Millennium Management LLC now owns 1,039,696 shares of the biopharmaceutical company’s stock valued at $2,371,000 after purchasing an additional 878,432 shares in the last quarter. 25.44% 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 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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