Key Points
- MannKind Director Steven Binder sold 33,558 shares at an average price of $3.81, generating approximately $127,856. He retained 752,309 shares after the transaction, a 4.27% reduction in his holdings.
- MannKind reported quarterly revenue of $109.37 million, up 43% year over year and above analysts’ $108.08 million estimate, while earnings matched expectations at a loss of $0.01 per share.
- Analyst sentiment remains mixed but leans positive: seven analysts rate the stock a Buy, one rates it Hold, and two rate it Sell. The consensus rating is “Moderate Buy,” with an average price target of $8.34 versus a recent share price near $3.75.
MannKind Corporation (NASDAQ:MNKD - Get Free Report) Director Steven Binder sold 33,558 shares of the firm's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $3.81, for a total transaction of $127,855.98. Following the completion of the sale, the director owned 752,309 shares in the company, valued at $2,866,297.29. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
MannKind Price Performance
Shares of NASDAQ MNKD opened at $3.75 on Tuesday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -28.85 and a beta of 1.10. The business has a 50-day moving average of $4.00 and a two-hundred day moving average of $3.45. MannKind Corporation has a 1 year low of $2.23 and a 1 year high of $6.51.
MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, meeting analysts' consensus estimates of ($0.01). MannKind had a negative return on equity of 11.21% and a negative net margin of 11.08%.The business had revenue of $109.37 million for the quarter, compared to the consensus estimate of $108.08 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business's revenue for the quarter was up 43.0% on a year-over-year basis. As a group, equities research analysts expect that MannKind Corporation will post -0.2 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Wall Street Zen lowered shares of MannKind from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Cantor Fitzgerald restated an "overweight" rating and set a $8.00 price objective on shares of MannKind in a research report on Friday. Weiss Ratings restated a "sell (d)" rating on shares of MannKind in a report on Wednesday, July 8th. HC Wainwright reaffirmed a "buy" rating on shares of MannKind in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company cut their price target on shares of MannKind from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, MannKind has a consensus rating of "Moderate Buy" and an average price target of $8.34.
Get Our Latest Stock Analysis on MannKind
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in MNKD. Krilogy Financial LLC purchased a new stake in MannKind in the first quarter valued at approximately $28,000. Independent Financial Group LLC acquired a new stake in shares of MannKind in the first quarter valued at approximately $31,000. Waverly Advisors LLC purchased a new position in shares of MannKind during the first quarter worth approximately $43,000. International Assets Investment Management LLC purchased a new position in shares of MannKind during the fourth quarter worth approximately $45,000. Finally, Discipline Wealth Solutions LLC acquired a new position in shares of MannKind in the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 49.55% of the company's stock.
MannKind Company Profile
(
Get Free Report)
MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).
Further Reading
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