MannKind (NASDAQ:MNKD) Shares Pass Above 200 Day Moving Average of $3.90

MannKind Co. (NASDAQ:MNKD)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.90 and traded as high as $4.21. MannKind shares last traded at $4.12, with a volume of 1,600,919 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $6.50 price objective on shares of MannKind in a research report on Friday, March 15th. Wedbush reissued an “outperform” rating and set a $10.00 price objective on shares of MannKind in a research report on Wednesday, February 28th. Finally, HC Wainwright reissued a “buy” rating and set a $7.50 price objective on shares of MannKind in a research report on Thursday, January 4th.

MannKind Stock Up 1.2 %

The stock has a fifty day moving average of $4.26 and a 200-day moving average of $3.91. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -82.00 and a beta of 1.28.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $58.47 million during the quarter, compared to analyst estimates of $52.36 million. On average, equities analysts forecast that MannKind Co. will post 0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On MannKind

Several large investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of MannKind by 71.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 235,886 shares of the biopharmaceutical company’s stock valued at $1,069,000 after acquiring an additional 98,282 shares during the period. 180 Wealth Advisors LLC raised its stake in shares of MannKind by 12.6% during the first quarter. 180 Wealth Advisors LLC now owns 1,942,210 shares of the biopharmaceutical company’s stock worth $8,798,000 after purchasing an additional 216,880 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of MannKind by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 15,248,608 shares of the biopharmaceutical company’s stock worth $55,505,000 after purchasing an additional 598,895 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of MannKind during the fourth quarter worth approximately $1,275,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of MannKind by 12.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,042,867 shares of the biopharmaceutical company’s stock worth $11,076,000 after purchasing an additional 336,257 shares during the last quarter. 49.55% of the stock is owned by institutional investors and hedge funds.

MannKind Company 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.