Calamos Advisors LLC Has $1.19 Million Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Calamos Advisors LLC cut its stake in shares of MannKind Co. (NASDAQ:MNKD) by 41.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 184,661 shares of the biopharmaceutical company’s stock after selling 131,021 shares during the period. Calamos Advisors LLC owned 0.07% of MannKind worth $1,187,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MNKD. Jacobs Levy Equity Management Inc. acquired a new stake in shares of MannKind in the 3rd quarter valued at approximately $12,252,000. Two Sigma Advisers LP lifted its stake in MannKind by 60.7% in the third quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company’s stock valued at $16,658,000 after acquiring an additional 1,000,600 shares during the last quarter. Parkman Healthcare Partners LLC lifted its stake in MannKind by 37.1% in the third quarter. Parkman Healthcare Partners LLC now owns 3,304,085 shares of the biopharmaceutical company’s stock valued at $20,783,000 after acquiring an additional 894,486 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in MannKind by 421.3% in the third quarter. BNP Paribas Financial Markets now owns 471,802 shares of the biopharmaceutical company’s stock valued at $2,968,000 after acquiring an additional 381,298 shares during the last quarter. Finally, Barclays PLC lifted its stake in MannKind by 186.0% in the 3rd quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company’s stock valued at $3,271,000 after purchasing an additional 338,121 shares during the last quarter. 49.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MNKD shares. Wells Fargo & Company assumed coverage on MannKind in a research note on Friday, December 20th. They issued an “overweight” rating and a $9.00 price objective on the stock. StockNews.com cut MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. Finally, Royal Bank of Canada raised shares of MannKind from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $9.07.

MannKind Trading Up 0.9 %

NASDAQ:MNKD opened at $5.64 on Thursday. The stock has a 50 day simple moving average of $6.33 and a 200 day simple moving average of $6.28. The stock has a market cap of $1.56 billion, a P/E ratio of 80.57 and a beta of 1.28. MannKind Co. has a 1-year low of $3.22 and a 1-year high of $7.63.

MannKind (NASDAQ:MNKD) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The company had revenue of $70.08 million during the quarter, compared to analysts’ expectations of $77.27 million. As a group, sell-side analysts forecast that MannKind Co. will post 0.1 EPS for the current year.

Insiders Place Their Bets

In other news, Director Steven B. Binder sold 67,536 shares of MannKind stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $6.89, for a total value of $465,323.04. Following the completion of the sale, the director now directly owns 1,075,026 shares in the company, valued at approximately $7,406,929.14. The trade was a 5.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.

About MannKind

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.