Cambridge Investment Research Advisors Inc. Buys 36,694 Shares of MannKind Co. (MNKD)

Share on StockTwits

Cambridge Investment Research Advisors Inc. increased its stake in MannKind Co. (NASDAQ:MNKD) by 196.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,407 shares of the biopharmaceutical company’s stock after buying an additional 36,694 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in MannKind were worth $59,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in MannKind by 82.3% during the second quarter. Bank of America Corp DE now owns 123,414 shares of the biopharmaceutical company’s stock worth $235,000 after buying an additional 55,721 shares during the period. Northern Trust Corp boosted its stake in MannKind by 604.1% during the second quarter. Northern Trust Corp now owns 1,540,825 shares of the biopharmaceutical company’s stock worth $2,927,000 after buying an additional 1,321,977 shares during the period. Wells Fargo & Company MN boosted its stake in MannKind by 25.4% during the third quarter. Wells Fargo & Company MN now owns 237,296 shares of the biopharmaceutical company’s stock worth $434,000 after buying an additional 48,126 shares during the period. Alliancebernstein L.P. boosted its stake in MannKind by 300.5% during the third quarter. Alliancebernstein L.P. now owns 154,600 shares of the biopharmaceutical company’s stock worth $283,000 after buying an additional 116,000 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of MannKind by 12.7% during the third quarter. BlackRock Inc. now owns 11,682,722 shares of the biopharmaceutical company’s stock valued at $21,381,000 after purchasing an additional 1,321,050 shares during the period. Institutional investors and hedge funds own 33.37% of the company’s stock.

A number of brokerages have recently issued reports on MNKD. BidaskClub raised shares of MannKind from a “hold” rating to a “buy” rating in a research note on Thursday. Leerink Swann began coverage on shares of MannKind in a research note on Monday, March 4th. They set an “outperform” rating and a $3.00 target price for the company. Svb Leerink began coverage on shares of MannKind in a research note on Monday, March 4th. They set an “outperform” rating and a $3.00 target price for the company. Finally, ValuEngine raised shares of MannKind from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. MannKind currently has an average rating of “Hold” and a consensus target price of $3.06.

Shares of MNKD opened at $2.24 on Friday. The firm has a market cap of $391.55 million, a PE ratio of -3.80 and a beta of 2.68. MannKind Co. has a 12-month low of $0.94 and a 12-month high of $3.04.

MannKind (NASDAQ:MNKD) last issued its earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.28). During the same quarter in the previous year, the firm earned ($0.28) EPS. As a group, sell-side analysts predict that MannKind Co. will post -0.32 EPS for the current fiscal year.

WARNING: “Cambridge Investment Research Advisors Inc. Buys 36,694 Shares of MannKind Co. (MNKD)” was first reported by Week Herald and is the sole property of of Week Herald. If you are viewing this news story on another site, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this news story can be viewed at https://weekherald.com/2019/03/15/cambridge-investment-research-advisors-inc-buys-36694-shares-of-mannkind-co-mnkd.html.

MannKind Company Profile

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.

Recommended Story: What factors cause inflation to rise?

Institutional Ownership by Quarter for MannKind (NASDAQ:MNKD)

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.