Weekly Performance Analysis for MannKind Corporation (MNKD)

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MannKind Corporation (NASDAQ:MNKD) saw an upside of 6.79% to close Tuesday at $5.19 after adding $0.33 on the day. The 5-day average trading volume is 3,393,300 shares of the company’s common stock. It has gained $5.22 in the past week and touched a new high 4 times within the past 5 days. An average of 3,999,320 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,505,260.

MNKD’s 1-month performance is -0.19% or $0.10 on its low of $4.50 reached on 01/19/23. The company’s shares have touched a 52-week low of $2.49 and high of $5.47, with the stock’s rally to the 52-week high happening on 01/04/23. YTD, MNKD has lost -1.52% or -$0.08 and has reached a new high 2 times. However, the current price is down -5.03% from the 52-week high price.

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Insider Transactions

MNKD stock investors last saw insider trading activity on Aug 29.Thomson David (EVP Genl Counsel & Secretary) most recently sold 7,000 shares at $3.67 per share on Aug 29. This transaction cost the insider $25,690. EVP Endocrine Business Unit, Galindo Alejandro, sold 4,615 shares at a price of $3.85 on Aug 22.

Valuation Metrics

MNKD stock has a beta of 1.65. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 17.06.

MannKind Corporation’s quick ratio for the period ended September 29 was 3.40, with the current ratio over the same period at 3.70.. In terms of profitability, the gross margin trailing 12 months is 30.70%. The firm’s gross profit as reported stood at $36.59 million against revenue of $75.44 million.

Earnings Surprise

For the quarterly period ending September 29 this year, MannKind Corporation’s cash and short-term investments amounted to $110.74 million against total debt of $382.69 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 69.3% to -$14.43 million, while revenue of -$29.02 million was -101.11% off the previous quarter. Analysts expected MNKD to announce -$0.09 per share in earnings in its latest quarter, but it posted -$0.06, representing a 33.30% surprise. EBITDA for the quarter stood at more than -$10.0 million. MNKD stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 531.51 million, with total debt at $382.69 million. Shareholders hold equity totaling $263.2 million.

Let’s look briefly at MannKind Corporation (MNKD) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 64.02% to suggest the stock is trending Neutral, with historical volatility in this time period at 61.38%.

The stock’s 5-day moving average is $4.78, reflecting a +13.57% or $0.62 change from its current price. MNKD is currently trading -1.70% above its 20-day SMA, +45.38% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +34.46% and SMA200 by+32.40%.

Stochastic %K and %D was 49.65% and 28.24% and the average true range (ATR) pointed at 0.26. The RSI (14) points at 59.95%, while the 14-day stochastic is at 79.31% with the period’s ATR at 0.26. The stock’s 9-day MACD Oscillator is pointing at 0.14 and 0.09 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for MannKind Corporation (NASDAQ: MNKD), RBC Capital Mkts launched coverage with a Sector perform rating. Analysts offering their rating for MNKD stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate MNKD as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 5 have offered a “buy” rating.

What is MNKD’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $5.00 and a high of $8.00, with their median price target at $6.00. Looking at these predictions, the average price target given by analysts is for MannKind Corporation (MNKD) stock is $6.17.

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