MannKind (NASDAQ:MNKD) Stock Price Down 3.9%

MannKind Co. (NASDAQ:MNKD)’s stock price was down 3.9% during mid-day trading on Wednesday . The company traded as low as $4.71 and last traded at $4.72. Approximately 680,285 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 3,125,661 shares. The stock had previously closed at $4.91.

Analysts Set New Price Targets

Several equities research analysts recently commented on MNKD shares. HC Wainwright reaffirmed a “buy” rating and set a $7.50 target price on shares of MannKind in a research note on Thursday, January 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.50 price objective on shares of MannKind in a research note on Friday, March 15th. Finally, Wedbush reissued an “outperform” rating and set a $10.00 target price on shares of MannKind in a research note on Wednesday, February 28th.

MannKind Price Performance

The business has a fifty day moving average of $4.01 and a 200-day moving average of $3.90.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $58.47 million for the quarter, compared to the consensus estimate of $52.36 million. On average, analysts predict that MannKind Co. will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On MannKind

Several hedge funds have recently modified their holdings of MNKD. China Universal Asset Management Co. Ltd. increased its position in shares of MannKind by 99.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,892 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 3,428 shares during the last quarter. Fountainhead AM LLC purchased a new stake in MannKind during the third quarter worth about $41,000. Private Trust Co. NA bought a new stake in MannKind in the third quarter worth about $41,000. Cetera Advisors LLC purchased a new position in MannKind in the second quarter valued at about $42,000. Finally, International Assets Investment Management LLC bought a new position in shares of MannKind during the 1st quarter valued at approximately $39,000. Institutional investors own 49.55% of the company’s stock.

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.