Marshall Investment Management LLC Makes New $69,000 Investment in MannKind Co. (NASDAQ:MNKD)

Marshall Investment Management LLC purchased a new position in shares of MannKind Co. (NASDAQ:MNKD) in the fourth quarter, HoldingsChannel reports. The fund purchased 11,000 shares of the biopharmaceutical company’s stock, valued at approximately $69,000.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in MannKind by 22.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 1,816 shares during the last quarter. Beirne Wealth Consulting Services LLC acquired a new position in MannKind during the 4th quarter worth approximately $66,000. Quantinno Capital Management LP acquired a new position in MannKind during the 3rd quarter worth approximately $85,000. Foundations Investment Advisors LLC acquired a new position in MannKind during the 3rd quarter worth approximately $93,000. Finally, National Bank of Canada FI boosted its position in MannKind by 14.8% during the 3rd quarter. National Bank of Canada FI now owns 21,553 shares of the biopharmaceutical company’s stock worth $136,000 after acquiring an additional 2,783 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MNKD. StockNews.com downgraded MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Wedbush began coverage on MannKind in a report on Monday, February 10th. They issued an “outperform” rating and a $11.00 price objective for the company. Royal Bank of Canada raised MannKind from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $7.00 to $10.00 in a report on Thursday, December 19th. Finally, Wells Fargo & Company began coverage on MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MannKind has an average rating of “Buy” and an average target price of $9.21.

MannKind Price Performance

Shares of MannKind stock opened at $5.77 on Friday. The business has a fifty day simple moving average of $6.06 and a two-hundred day simple moving average of $6.27. MannKind Co. has a 1 year low of $3.47 and a 1 year high of $7.63. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 82.36 and a beta of 1.28.

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.