The stock of MannKind Corporation (NASDAQ:MNKD) increased by $0.17 on Monday to $4.89, up 3.71 percent. The last five days have seen an average of 2,549,710 shares of common stock traded. 6 times new highs were reached in the current year, with a fall of -$0.38. The average number of shares traded over the last 20 days was 3,992,053, while the average volume over the last 50 days totaled 2,965,567.
MNKD stock appreciated 5.72% since last month. On 08/02/23, the company’s shares reached a one-month low of $4.39. The stock touched a high of $5.75 on 08/09/23, after rallying from a low of $2.91 in 52 weeks. The price of MNKD stock has declined by -7.12% or -$0.38 this year, reaching a new high 6 times. Still, the stock price is down -14.87% 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 27 days ago on Aug 01. On Aug 01, Chief Executive Officer Castagna Michael sold 10,000 shares at $4.57 each. This transaction resulted in the insider making $45,686. On Jul 03, Castagna Michael sold 10,000 shares at a price of US$4.07. After the transaction, the insider now owns 2,506,735 shares. Chief Executive Officer Castagna Michael had earlier sold 10,000 shares on Jun 01 for $4.53 a share. The transaction was completed for $45,302.
Financial Health
For the three months ended June 29, MannKind Corporation’s quick ratio was 2.10, while its current ratio was 2.40, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 59.50% percent. MannKind Corporation’s EBITDA margin for the year ended June 29 was -62.78%, whereas its operating margin stood at -16.90% for the same period. Based on annual data, it had gross profit of $42.27 million and revenue of $99.77 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MNKD’s return on assets (ROA) during the last 12 months has been -15.80%. There was a -50.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 18.90%.
Earnings Surprise
According to MannKind Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $48.61 million, while revenues rose by 61.14% to $40.63 million. It was predicted that MannKind Corporation’s quarterly earnings would be -$0.02, but it ended up being -$0.04. EBITDA was $2.5 million for the quarter. At the end of MannKind Corporation’s most recent quarter ended June 29, its liabilities totaled 573.91 million, while its total debt was $383.16 million. Equity owned by shareholders amounts to $268.36 million.
Technical Picture
Here’s a quick look at MannKind Corporation’s (MNKD) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 52.91%, suggesting the stock is Neutral, with a 47.43% historical volatility rate.
The stochastic %K and %D were 23.60% and 17.47% respectively, while the average true range (ATR) was 0.22. Based on the 14-day stochastic reading of 30.80%, the RSI (14) reading is 54.04%. On the 9-day MACD Oscillator, the stock is at -0.02, and the 14-day reading is at -0.18.
Analyst Ratings
In its analyst report released on May 14, 2021, RBC Capital Mkts began covering MannKind Corporation (NASDAQ: MNKD). The stock was rated as a Sector perform by the brokerage firm. Analysts have assigned MannKind Corporation (MNKD) an Buy rating. MNKD is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 4 others recommend it as a buy.
What is MNKD’s price target for the next 12 months?
The current consensus forecast for the stock is between $5.00 and $7.50, with a median target price of $7.00. In analyzing these forecasts, the average price target given by analysts for MannKind Corporation (MNKD) is $6.70.
