MannKind Target of Unusually High Options Trading (NASDAQ:MNKD)

MannKind Co. (NASDAQ:MNKD) was the target of some unusual options trading on Thursday. Traders acquired 3,211 call options on the company. This represents an increase of 63% compared to the typical volume of 1,971 call options.

Institutional Investors Weigh In On MannKind

Institutional investors and hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new stake in shares of MannKind in the fourth quarter valued at about $37,000. Jones Financial Companies Lllp lifted its position in shares of MannKind by 3,294.8% during the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 6,392 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of MannKind in the 4th quarter worth approximately $65,000. Beirne Wealth Consulting Services LLC bought a new position in shares of MannKind in the fourth quarter valued at approximately $66,000. Finally, Marshall Investment Management LLC purchased a new position in MannKind in the fourth quarter worth $69,000. 49.55% of the stock is owned by hedge funds and other institutional investors.

MannKind Price Performance

Shares of NASDAQ:MNKD traded down $0.07 during mid-day trading on Thursday, hitting $5.15. The company had a trading volume of 572,178 shares, compared to its average volume of 2,078,818. MannKind has a one year low of $3.97 and a one year high of $7.63. The company has a market capitalization of $1.56 billion, a PE ratio of 73.50 and a beta of 1.27. The firm has a fifty day moving average price of $5.73 and a 200 day moving average price of $6.27.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $76.78 million during 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%. Research analysts expect that MannKind will post 0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MNKD has been the topic of a number of analyst reports. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $7.00 to $10.00 in a research report on Thursday, December 19th. StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of MannKind in a report on Thursday, February 27th. Finally, Wells Fargo & Company began coverage on shares of MannKind in a research report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target on the stock. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MannKind presently has an average rating of “Buy” and an average price target 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.