Victory Capital Management Inc. Purchases 171,537 Shares of MannKind Co. (NASDAQ:MNKD)

Victory Capital Management Inc. raised its position in MannKind Co. (NASDAQ:MNKD) by 358.6% during the 4th quarter, HoldingsChannel reports. The fund owned 219,367 shares of the biopharmaceutical company’s stock after buying an additional 171,537 shares during the quarter. Victory Capital Management Inc.’s holdings in MannKind were worth $1,411,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. National Bank of Canada FI increased its position in shares of 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 purchasing an additional 2,783 shares during the last quarter. Franklin Resources Inc. increased its position in shares of MannKind by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company’s stock worth $1,047,000 after purchasing an additional 4,603 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of MannKind by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 58,475 shares of the biopharmaceutical company’s stock worth $376,000 after purchasing an additional 5,585 shares during the last quarter. Jones Financial Companies Lllp increased 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 purchasing an additional 6,392 shares during the last quarter. Finally, Beirne Wealth Consulting Services LLC acquired a new position in shares of MannKind during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Price Performance

Shares of NASDAQ MNKD opened at $5.21 on Wednesday. The stock’s fifty day moving average price is $5.63 and its two-hundred day moving average price is $6.26. 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 $1.58 billion, a price-to-earnings ratio of 74.43 and a beta of 1.27.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The firm had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. On average, equities analysts anticipate that MannKind Co. will post 0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MNKD has been the topic of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $11.00 price target on shares of MannKind in a research report on Thursday, February 27th. StockNews.com raised MannKind from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Wells Fargo & Company started coverage on MannKind in a report on Friday, December 20th. They set an “overweight” rating and a $9.00 target price on the stock. Finally, Royal Bank of Canada raised MannKind from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $7.00 to $10.00 in a report on Thursday, December 19th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $9.21.

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.