MannKind Corporation (NASDAQ:MNKD) finished Thursday with a subtraction of -$0.05 to close at $5.29, a downside of -0.94 percent. An average of 6,745,760 shares of common stock have been traded in the last five days. There was a gain of $0.59 in the past week, and it reached a new high 19 times over the past 12 months. The last 20 days have seen an average of 2,984,125 shares traded, while the 50-day average volume stands at 2,830,118.
MNKD stock has increased by 27.47% in the last month. The company shares reached their 1-month lowest point of $4.04 on 07/11/23. With the stock rallying to its 52-week high on 08/09/23, shares of the company touched a low of $2.91 and a high of $5.75 in 52 weeks. It has reached a new high 6 times so far this year and achieved 0.38% or $0.02 in price. In spite of this, the price is down -8.00% from the 52-week high.
Insider Transactions
MNKD stock investors should be aware that MannKind Corporation (MNKD) stock had its last reported insider trading activity 10 days ago on Aug 01. In this transaction, the insider spent $45,686. Chief Executive Officer, Castagna Michael, disposed of 10,000 shares at a price of $4.07 on Jul 03. The insider now owns more than $40,701 worth of shares. Prior to that, Chief Executive Officer Castagna Michael went on to Sale 10,000 shares at $4.53 each on Jun 01. An amount of $45,302 was transacted.
Valuation Metrics
MannKind Corporation (MNKD) stock’s beta is 1.54. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 10.84.
Financial Health
The quick ratio of MannKind Corporation for the three months ended June 29 was 2.50, and the current ratio was 2.70, indicating that the company is able to meet its debt obligations. MannKind Corporation’s EBITDA margin for the year ending June 29 is -62.78%, while its operating margin for the same period stands at -38.00%. Its gross profit as reported stood at $42.27 million compared to revenue of $99.77 million.
Earnings Surprise
For the three-month period that ended June 29, MannKind Corporation had $58.16 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$5.27 million in the quarter, while revenues of -$17.95 million were shrunk -393.36%. The analyst consensus anticipated MannKind Corporation’s latest quarter earnings to come in at -$0.04 per share, but it turned out to be -$0.02, a 50.00% surprise. For the quarter, EBITDA amounted to $2.5 million. At the end of the quarter ending June 29, MannKind Corporation’s stock balance sheet showed total liabilities of 573.91 million. Shareholders own equity worth $268.36 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at MannKind Corporation (MNKD) price momentum. RSI 9-day as of the close on 10 August was 74.05%, suggesting the stock is Overbought, with historical volatility in this time frame at 91.12%.
As of today, MNKD’s price is $5.08 +12.55% or $0.59 from its 5-day moving average. MNKD is currently trading +25.36% higher than its 20-day SMA and +29.98% higher than its 100-day SMA. However, the stock’s current price level is +19.41% above the SMA50 and +58.86% above the SMA200.
The stochastic %K and %D were 75.66% and 73.28%, respectively, and the average true range (ATR) was 0.29. With the 14-day stochastic at 68.49% and the average true range at 0.25, the RSI (14) stands at 72.13%. The stock has reached 0.50 on the 9-day MACD Oscillator while the 14-day reading was at 0.64.
Analyst Ratings
RBC Capital Mkts launched coverage on MannKind Corporation (NASDAQ: MNKD) in its analyst report released on May 14, 2021. The firm assigned the stock a Sector perform rating. The consensus rating for MannKind Corporation (MNKD) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MNKD, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 4 others rate it as a “buy”.
What is MNKD’s price target for the next 12 months?
Analysts predict a range of price targets between $5.00 and $7.50, with a median target of $7.00. Taking a look at these predictions, the average price target given by analysts for MannKind Corporation (MNKD) stock is $6.60.
