MannKind (NASDAQ:MNKD) Shares Cross Above Two Hundred Day Moving Average of $3.90

MannKind Co. (NASDAQ:MNKDGet Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.90 and traded as high as $4.49. MannKind shares last traded at $4.43, with a volume of 2,812,524 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MNKD. HC Wainwright reiterated a “buy” rating and set a $7.50 target price on shares of MannKind in a report on Thursday, January 4th. Wedbush reaffirmed an “outperform” rating and set a $10.00 target price on shares of MannKind in a research note on Wednesday, February 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.50 target price on shares of MannKind in a research note on Friday, March 15th.

Check Out Our Latest Stock Analysis on MannKind

MannKind Stock Performance

The firm has a market capitalization of $1.20 billion, a P/E ratio of -88.60 and a beta of 1.28. The stock’s 50 day simple moving average is $4.09 and its 200 day simple moving average is $3.90.

MannKind (NASDAQ:MNKDGet Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $52.36 million. On average, analysts anticipate that MannKind Co. will post 0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. raised its holdings in shares of MannKind by 99.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,892 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 3,428 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of MannKind in the first quarter worth $39,000. Fountainhead AM LLC purchased a new position in shares of MannKind in the third quarter worth $41,000. Private Trust Co. NA purchased a new position in shares of MannKind during the third quarter worth $41,000. Finally, XTX Topco Ltd purchased a new position in shares of MannKind during the first quarter worth $43,000. Hedge funds and other institutional investors own 49.55% of the company’s stock.

MannKind Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for MannKind Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MannKind and related companies with MarketBeat.com's FREE daily email newsletter.