MetLife Investment Management LLC Has $1.02 Million Stake in MannKind Co. (NASDAQ:MNKD)

MetLife Investment Management LLC raised its holdings in MannKind Co. (NASDAQ:MNKD) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 158,481 shares of the biopharmaceutical company’s stock after buying an additional 5,110 shares during the period. MetLife Investment Management LLC owned 0.06% of MannKind worth $1,019,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNKD. Jones Financial Companies Lllp increased its position in shares of MannKind by 3,294.8% in the fourth quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 6,392 shares during the last quarter. Beirne Wealth Consulting Services LLC bought a new stake in shares of MannKind during the 4th quarter worth approximately $66,000. Proficio Capital Partners LLC acquired a new stake in shares of MannKind in the 4th quarter valued at approximately $70,000. Marshall Investment Management LLC bought a new position in shares of MannKind in the fourth quarter valued at $69,000. Finally, Los Angeles Capital Management LLC acquired a new position in MannKind during the fourth quarter worth $86,000. 49.55% of the stock is currently owned by institutional investors and hedge funds.

MannKind Trading Up 1.0 %

Shares of NASDAQ MNKD opened at $5.00 on Friday. The firm has a market cap of $1.52 billion, a P/E ratio of 71.43 and a beta of 1.22. MannKind Co. has a 1-year low of $4.17 and a 1-year high of $7.63. The business’s 50 day moving average is $4.94 and its 200-day moving average is $5.89.

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, hitting the consensus estimate of $0.03. The firm had revenue of $76.78 million for the quarter, compared to analysts’ expectations of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. Analysts forecast that MannKind Co. will post 0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and issued a $11.00 price objective on shares of MannKind in a research report on Thursday, February 27th. StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Finally, Mizuho initiated coverage on MannKind in a research report on Thursday, April 10th. They set an “outperform” rating and a $12.00 price target on the stock. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, MannKind currently has an average rating of “Buy” and a consensus target price of $9.56.

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.