Mannkind Corp (NASDAQ:MNKD) shares traded 5.08% higher at $3.72 on Wall Street last session.
In accordance with the data, 6 analysts cover Mannkind Corp (NASDAQ:MNKD). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $5.00, we find $6.75. Given the previous closing price of $3.54, this indicates a potential upside of 90.68 percent. MNKD stock price is now -8.88% away from the 50-day moving average and -14.99% away from the 200-day moving average. The market capitalization of the company currently stands at $1.00B.
It has been rated a hold by 1 analysts and a buy by 5. Brokers who have rated the stock have averaged $6.92 as their price target over the next twelve months.
With the price target of $10, Wedbush recently initiated with Outperform rating for Mannkind Corp (NASDAQ: MNKD).
In other news, Castagna Michael, Chief Executive Officer sold 10,000 shares of the company’s stock on Nov 01. The stock was sold for $42,500 at an average price of $4.25. Upon completion of the transaction, the Chief Executive Officer now directly owns 2,349,147 shares in the company, valued at $8.74 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 02, Chief Executive Officer Castagna Michael sold 10,000 shares of the business’s stock. A total of $46,100 was realized by selling the stock at an average price of $4.61. This leaves the insider owning 2,359,147 shares of the company worth $8.78 million. Insiders disposed of 2,142,387 shares of company stock worth roughly $7.97 million over the past 1 year. A total of 3.52% of the company’s stock is owned by insiders.
Mannkind Corp (NASDAQ: MNKD) opened at $3.6100 on Tuesday. During the past 12 months, Mannkind Corp has had a low of $3.38 and a high of $5.75. The fifty day moving average price for MNKD is $4.0826 and a two-hundred day moving average price translates $4.3760 for the stock.
The latest earnings results from Mannkind Corp (NASDAQ: MNKD) was released for Sep, 2023. According to the Biotechnology Company, earnings per share came in at $0.01, beating analysts’ expectations of -$0.02 by 0.03. This compares to -$0.06 EPS in the same period last year. The company reported revenue of $51.25 million for the quarter, compared to $32.83 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 56.14 percent. For the current quarter, analysts expect MNKD to generate $55.69M in revenue.
Mannkind Corp(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.