HC Wainwright reissued their buy rating on shares of MannKind (NASDAQ:MNKD) in a research report released on Thursday morning, AnalystRatings.com reports. HC Wainwright currently has a $2.50 target price on the biopharmaceutical company’s stock.
Several other brokerages have also commented on MNKD. Cantor Fitzgerald started coverage on shares of MannKind in a research report on Thursday, October 24th. They issued an overweight rating and a $3.00 price objective on the stock. BidaskClub upgraded shares of MannKind from a sell rating to a hold rating in a research note on Thursday, October 31st. Finally, ValuEngine upgraded shares of MannKind from a sell rating to a hold rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. MannKind currently has an average rating of Buy and an average price target of $2.90.
Shares of MannKind stock traded up $0.01 during trading hours on Thursday, reaching $1.26. The company’s stock had a trading volume of 2,692,300 shares, compared to its average volume of 2,394,064. The company has a market capitalization of $282.53 million, a P/E ratio of -2.14 and a beta of 2.36. MannKind has a one year low of $0.94 and a one year high of $2.34. The stock’s fifty day simple moving average is $1.30 and its two-hundred day simple moving average is $1.23.
Institutional investors and hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. purchased a new position in shares of MannKind in the second quarter worth about $452,000. Chicago Equity Partners LLC purchased a new position in shares of MannKind in the second quarter worth about $259,000. Vanguard Group Inc. increased its stake in shares of MannKind by 5.7% in the second quarter. Vanguard Group Inc. now owns 9,827,368 shares of the biopharmaceutical company’s stock worth $11,301,000 after purchasing an additional 526,309 shares in the last quarter. Scopia Capital Management LP purchased a new position in shares of MannKind in the second quarter worth about $1,074,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of MannKind in the second quarter worth about $33,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.
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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