The stock of MannKind Corporation (NASDAQ:MNKD) last traded at $5.05, down -3.63% from the previous session.
Data from the available sources indicates that MannKind Corporation (NASDAQ:MNKD) is covered by 5 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $7.50 and a low of $5.00, we find $7.00. Given the previous closing price of $5.24, this indicates a potential upside of 33.59 percent. MNKD stock price is now 15.67% away from the 50-day moving average and 12.44% away from the 200-day moving average. The market capitalization of the company currently stands at $1.37B.
In total, 1 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $6.70 as their price target over the next twelve months.
With the price target of $5, RBC Capital Mkts recently initiated with Sector Perform rating for MannKind Corporation (NASDAQ: MNKD).
In other news, Castagna Michael, Chief Executive Officer sold 10,000 shares of the company’s stock on Aug 01. The stock was sold for $45,686 at an average price of $4.57. Upon completion of the transaction, the Chief Executive Officer now directly owns 2,496,735 shares in the company, valued at $12.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 03, Chief Executive Officer Castagna Michael sold 10,000 shares of the business’s stock. A total of $40,701 was realized by selling the stock at an average price of $4.07. This leaves the insider owning 2,506,735 shares of the company worth $12.66 million. Insiders disposed of 2,256,034 shares of company stock worth roughly $11.39 million over the past 1 year. A total of 2.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MNKD stock. A new stake in MannKind Corporation shares was purchased by NITORUM CAPITAL, L.P. during the first quarter worth $24,433,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $1,993,000 in shares of MNKD during the first quarter. In the first quarter, FIRST TRUST ADVISORS LP acquired a new stake in MannKind Corporation valued at approximately $1,361,000. CAPTRUST FINANCIAL ADVISORS acquired a new stake in MNKD for approximately $1,175,000. HRT FINANCIAL LP purchased a new stake in MNKD valued at around $1,079,000 in the second quarter. In total, there are 250 active investors with 50.30% ownership of the company’s stock.
With an opening price of $5.20 on Wednesday morning, MannKind Corporation (NASDAQ: MNKD) set off the trading day. During the past 12 months, MannKind Corporation has had a low of $2.91 and a high of $5.75. The fifty day moving average price for MNKD is $4.38 and a two-hundred day moving average price translates $4.50 for the stock.
The latest earnings results from MannKind Corporation (NASDAQ: MNKD) was released for Jun, 2023. According to the Biotechnology Company, earnings per share came in at -$0.02, beating analysts’ expectations of -$0.04 by 0.02. This compares to -$0.11 EPS in the same period last year. The net profit margin was -30.00% and return on equity was 18.90% for MNKD. The company reported revenue of $48.61 million for the quarter, compared to $18.89 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 157.28 percent. For the current quarter, analysts expect MNKD to generate $51.51M in revenue.
MannKind Corporation(MNKD) 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. The company’s product pipeline also includes Tyvaso DP Treprostinil, an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease, and idiopathic pulmonary and cystic fibrosis. In addition, it has collaboration and license agreement with United Therapeutics Corporation for development, regulatory, and commercial activities of Tyvaso DPI; co-promotion agreement with Vertice Pharma to promote Thyquidity; and collaboration agreement with Thirona to evaluate the therapeutic for the treatment of pulmonary fibrosis. Further, the company has supply and distribution agreement with Biomm S.A. for the commercialization of Afrezza in Brazil; and license and distribution agreement with Cipla Ltd. for the marketing and distribution of Afrezza in India. MannKind Corporation was incorporated in 1991 and is headquartered in Danbury, Connecticut.
