MannKind Corporation (NASDAQ:MNKD) saw a downside of -2.54% to close Monday at $4.60 after subtracting -$0.12 on the day. The 5-day average trading volume is 2,551,580 shares of the company’s common stock. It has gained $4.85 in the past week and touched a new high 3 times within the past 5 days. An average of 1,828,275 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,423,846.
MNKD’s 1-month performance is 17.65% or $0.69 on its low of $3.89 reached on 07/10/23. The company’s shares have touched a 52-week low of $2.91 and high of $5.73, with the stock’s rally to the 52-week high happening on 02/27/23. YTD, MNKD has lost -12.71% or -$0.67 and has reached a new high 5 times. However, the current price is down -19.72% from the 52-week high price.
Insider Transactions
MNKD stock investors last saw insider trading activity on Aug 01.Castagna Michael (Chief Executive Officer) most recently sold 10,000 shares at $4.57 per share on Aug 01. This transaction cost the insider $45,686. Chief Executive Officer, Castagna Michael, sold 10,000 shares at a price of $4.07 on Jul 03. Then, on Jun 01, Chief Executive Officer Castagna Michael sold 10,000 shares at a price of $4.53 per share. This transaction amounted to $45,302.
Valuation Metrics
MNKD stock has a beta of 1.56. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 9.43.
MannKind Corporation’s quick ratio for the period ended March 30 was 2.50, with the current ratio over the same period at 2.70. In terms of profitability, the gross margin trailing 12 months is 51.20%. The trailing 12-month EBITDA margin is -62.78% while for the period ending March 30, MannKind Corporation’s operating margin was -38.00%. The firm’s gross profit as reported stood at $42.27 million against revenue of $99.77 million.
Earnings Surprise
For the quarterly period ending March 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -56.32% to -$17.95 million, while revenue of -$14.43 million was 19.61% off the previous quarter. Analysts expected MNKD to announce -$0.05 per share in earnings in its latest quarter, but it posted -$0.04, representing a 20.00% surprise. EBITDA for the quarter stood at more than -$4.6 million. MNKD stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 553.53 million, with total debt at $382.91 million. Shareholders hold equity totaling $264.31 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 07 August was 60.05% to suggest the stock is trending Neutral, with historical volatility in this time period at 34.77%.
The stock’s 5-day moving average is $4.62, reflecting a +0.66% or $0.03 change from its current price. MNKD is currently trading +11.65% above its 20-day SMA, +8.75% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -2.34% and SMA200 by+37.31%.
Stochastic %K and %D was 69.25% and 72.31% and the average true range (ATR) pointed at 0.19. The RSI (14) points at 60.41%, while the 14-day stochastic is at 55.36% with the period’s ATR at 0.18. The stock’s 9-day MACD Oscillator is pointing at 0.10 and 0.15 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 4 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 $7.00, with their median price target at $6.50. Looking at these predictions, the average price target given by analysts is for MannKind Corporation (MNKD) stock is $6.40.
