Mannkind Corp (NASDAQ:MNKD) finished Friday with an addition of $0.02 to close at $4.13, an upside of 0.49 percent. An average of 1,777,120 shares of common stock have been traded in the last five days. There was a gain of $0.07 in the past week, and it reached a new high 34 times over the past 12 months. The last 20 days have seen an average of 2,402,400 shares traded, while the 50-day average volume stands at 2,941,188.
MNKD stock has decreased by -12.87% in the last month. The company shares reached their 1-month lowest point of $3.99 on 09/25/23. 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 lost -21.63% or -$1.14 in price. In spite of this, the price is down -28.17% from the 52-week high.
Insider Transactions
MNKD stock investors should be aware that Mannkind Corp (MNKD) stock had its last reported insider trading activity 29 days ago on Sep 01. In this transaction, the insider spent $46,100. EVP Genl Counsel & Secretary, Thomson David, disposed of 8,100 shares at a price of $4.78 on Aug 28. The insider now owns more than $38,738 worth of shares. Prior to that, Chief Executive Officer Castagna Michael went on to Sale 10,000 shares at $4.57 each on Aug 01. An amount of $45,686 was transacted.
Valuation Metrics
Mannkind Corp (MNKD) stock’s beta is 1.61. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.01.
Financial Health
The quick ratio of Mannkind Corp for the three months ended June 29 was 2.11, and the current ratio was 2.37, indicating that the company is able to meet its debt obligations. Its gross profit as reported stood at $42.27 million compared to revenue of $99.77 million.
Earnings Surprise
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 -$9.8 million were shrunk -450.66%. The analyst consensus anticipated Mannkind Corp’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. Shareholders own equity worth $268.36 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Mannkind Corp (MNKD) price momentum. RSI 9-day as of the close on 29 September was 37.55%, suggesting the stock is Neutral, with historical volatility in this time frame at 19.84%.
As of today, MNKD’s price is $4.08 +1.72% or $0.07 from its 5-day moving average. MNKD is currently trading -10.41% lower than its 20-day SMA and +6.44% higher than its 100-day SMA. However, the stock’s current price level is -5.92% below the SMA50 and -14.67% below the SMA200.
The stochastic %K and %D were 18.97% and 13.85%, respectively, and the average true range (ATR) was 0.14. With the 14-day stochastic at 21.54% and the average true range at 0.15, the RSI (14) stands at 37.84%. The stock has reached 0.01 on the 9-day MACD Oscillator while the 14-day reading was at -0.08.
Analyst Ratings
RBC Capital Mkts launched coverage on Mannkind Corp (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 Corp (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 Corp (MNKD) stock is $6.70.
