Connor Clark & Lunn Investment Management Ltd. Purchases 16,410 Shares of MannKind Co. (NASDAQ:MNKD)

Connor Clark & Lunn Investment Management Ltd. grew its position in MannKind Co. (NASDAQ:MNKD) by 0.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,901,780 shares of the biopharmaceutical company’s stock after buying an additional 16,410 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in MannKind were worth $12,228,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of MNKD. Jones Financial Companies Lllp lifted its position in shares of MannKind by 3,294.8% in the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 6,392 shares during the period. Beirne Wealth Consulting Services LLC bought a new stake in shares of MannKind in the 4th quarter worth approximately $66,000. Marshall Investment Management LLC bought a new stake in shares of MannKind in the 4th quarter worth approximately $69,000. Proficio Capital Partners LLC bought a new stake in shares of MannKind in the 4th quarter worth approximately $70,000. Finally, Quantinno Capital Management LP bought a new stake in shares of MannKind in the 3rd quarter worth approximately $85,000. Institutional investors own 49.55% of the company’s stock.

MannKind Stock Performance

Shares of MNKD opened at $5.20 on Friday. The stock has a fifty day moving average price of $5.70 and a two-hundred day moving average price of $6.26. MannKind Co. has a 52-week low of $3.97 and a 52-week high of $7.63. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 74.29 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 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $74.99 million. As a group, research analysts predict that MannKind Co. will post 0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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