Fox Run Management L.L.C. Takes Position in MannKind Co. (NASDAQ:MNKD)

Fox Run Management L.L.C. bought a new stake in shares of MannKind Co. (NASDAQ:MNKD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 26,015 shares of the biopharmaceutical company’s stock, valued at approximately $167,000.

A number of other large investors also recently added to or reduced their stakes in MNKD. Jones Financial Companies Lllp increased its stake in shares of MannKind by 3,294.8% during the fourth quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 6,392 shares in the last quarter. Beirne Wealth Consulting Services LLC purchased a new stake in MannKind during the 4th quarter worth approximately $66,000. Marshall Investment Management LLC acquired a new position in shares of MannKind during the fourth quarter valued at approximately $69,000. Proficio Capital Partners LLC purchased a new position in shares of MannKind in the fourth quarter valued at approximately $70,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of MannKind in the third quarter worth approximately $85,000. 49.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on MNKD shares. 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 research note on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of MannKind in a research report on Thursday, February 27th. 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 for the company. Finally, StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MannKind has a consensus rating of “Buy” and an average price target of $9.21.

MannKind Stock Performance

MNKD stock opened at $5.03 on Friday. MannKind Co. has a one year low of $3.97 and a one year high of $7.63. The firm has a market cap of $1.53 billion, a PE ratio of 71.86 and a beta of 1.27. The firm’s 50 day moving average price is $5.49 and its 200-day moving average price is $6.20.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. Equities research analysts predict that MannKind Co. will post 0.1 EPS for the current fiscal year.

MannKind 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.