AXQ Capital LP Raises Position in MannKind Co. (NASDAQ:MNKD)

AXQ Capital LP lifted its stake in shares of MannKind Co. (NASDAQ:MNKD) by 19.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,530 shares of the biopharmaceutical company’s stock after acquiring an additional 3,717 shares during the quarter. AXQ Capital LP’s holdings in MannKind were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in MannKind by 40.6% during the 3rd quarter. Victory Capital Management Inc. now owns 47,830 shares of the biopharmaceutical company’s stock worth $301,000 after purchasing an additional 13,823 shares during the period. Intech Investment Management LLC purchased a new stake in shares of MannKind during the third quarter worth approximately $395,000. Charles Schwab Investment Management Inc. raised its holdings in MannKind by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,224,829 shares of the biopharmaceutical company’s stock valued at $13,994,000 after acquiring an additional 42,041 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in MannKind by 36.8% in the third quarter. The Manufacturers Life Insurance Company now owns 138,730 shares of the biopharmaceutical company’s stock worth $873,000 after acquiring an additional 37,295 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in MannKind by 421.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 471,802 shares of the biopharmaceutical company’s stock worth $2,968,000 after acquiring an additional 381,298 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors and hedge funds.

MannKind Stock Up 0.2 %

Shares of NASDAQ MNKD opened at $5.23 on Tuesday. The business has a 50-day moving average price of $5.56 and a 200 day moving average price of $6.23. The stock has a market cap of $1.59 billion, a PE ratio of 74.71 and a beta of 1.27. MannKind Co. has a 52-week low of $3.97 and a 52-week high of $7.63.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $76.78 million during the quarter, compared to the consensus estimate of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. Sell-side analysts anticipate that MannKind Co. will post 0.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MNKD. Wells Fargo & Company initiated coverage on shares of MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $11.00 price target on shares of MannKind in a report on Thursday, February 27th. Royal Bank of Canada raised MannKind from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. Finally, StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $9.21.

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.