MannKind Co. (NASDAQ:MNKD – Get Free Report) CEO Michael Castagna sold 85,106 shares of MannKind stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $6.30, for a total transaction of $536,167.80. Following the completion of the sale, the chief executive officer now owns 2,294,836 shares of the company’s stock, valued at $14,457,466.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
MannKind Stock Performance
Shares of MNKD traded up $0.43 during trading hours on Thursday, hitting $6.33. The stock had a trading volume of 6,866,507 shares, compared to its average volume of 2,710,890. The firm has a 50-day moving average price of $5.41 and a 200 day moving average price of $4.76. MannKind Co. has a fifty-two week low of $3.17 and a fifty-two week high of $6.44. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 212.33 and a beta of 1.32.
MannKind (NASDAQ:MNKD – Get Free Report) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. MannKind had a net margin of 3.78% and a negative return on equity of 3.35%. The firm had revenue of $72.39 million during the quarter, compared to analysts’ expectations of $64.81 million. During the same period in the previous year, the business posted ($0.02) EPS. The business’s revenue was up 48.9% compared to the same quarter last year. As a group, analysts predict that MannKind Co. will post 0.1 EPS for the current fiscal year.
Hedge Funds Weigh In On MannKind
Analyst Upgrades and Downgrades
A number of research firms recently commented on MNKD. Oppenheimer lifted their target price on shares of MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.50 target price on shares of MannKind in a research note on Thursday, May 9th. Finally, Rodman & Renshaw started coverage on shares of MannKind in a research note on Thursday, June 13th. They set a “buy” rating and a $8.00 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.80.
Check Out Our Latest Analysis on MNKD
MannKind Company Profile
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.
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