What is MannKind Corporation (MNKD) Stock Return on Shareholders’ Capital?

MannKind Corporation (NASDAQ: MNKD) stock jumped 6.79% on Tuesday to $5.19 against a previous-day closing price of $4.86. With 4.52 million shares changed hands, the volume of the stock remained heavier than its average volume of 4.47 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $5.22 whereas the lowest price it dropped to was $4.78. The 52-week range on MNKD shows that it touched its highest point at $5.47 and its lowest point at $2.49 during that stretch. It currently has a 1-year price target of $6.10. Beta for the stock currently stands at 1.65.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MNKD was up-trending over the past week, with a rise of 13.57%, but this was down by -0.19% over a month. Three-month performance surged to 55.86% while six-month performance rose 49.14%. The stock gained 36.94% in the past year, while it has lost -1.52% so far this year. A look at the trailing 12-month EPS for MNKD yields -0.39 with Next year EPS estimates of -0.16. For the next quarter, that number is -0.06. This implies an EPS growth rate of -26.30% for this year and 50.00% for next year. EPS is expected to grow by 35.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -17.50%.

Float and Shares Shorts:

At present, 259.30 million MNKD shares are outstanding with a float of 246.92 million shares on hand for trading. On Oct 13, 2022, short shares totaled 35.9 million, which was 13.95% higher than short shares on Sep 14, 2022. In addition to Dr. Michael E. Castagna Pharm.D. as the firm’s CEO & Director, Mr. Steven B. Binder serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 46.19% of MNKD’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.82% of MNKD, in contrast to 25.73% held by mutual funds. Shares owned by individuals account for 23.52%. As the largest shareholder in MNKD with 7.92% of the stake, SSgA Funds Management, Inc. holds 20,832,244 shares worth 20,832,244. A second-largest stockholder of MNKD, BlackRock Fund Advisors, holds 17,483,129 shares, controlling over 6.64% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in MNKD, holding 12,708,301 shares or 4.83% stake. With a 4.78% stake in MNKD, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 12,584,428 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.88% of MNKD stock, is the second-largest Mutual Fund holder. It holds 7,586,771 shares valued at 39.98 million. Fidelity Select Port. – Biotechno holds 2.45% of the stake in MNKD, owning 6,449,301 shares worth 33.99 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MNKD since 6 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MNKD analysts setting a high price target of $8.00 and a low target of $5.00, the average target price over the next 12 months is $6.17. Based on these targets, MNKD could surge 54.14% to reach the target high and fall by -3.66% to reach the target low. Reaching the average price target will result in a growth of 18.88% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MNKD will report FY 2022 earnings on 02/23/2024. Analysts have provided yearly estimates in a range of -$0.27 being high and -$0.36 being low. For MNKD, this leads to a yearly average estimate of -$0.32. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. MannKind Corporation surprised analysts by $0.03 when it reported -$0.06 EPS against a consensus estimate of -$0.09. The surprise factor in the prior quarter was -$0.02. The average estimate for the next quarter is thus -$0.05.

Summary of Insider Activity:

Insiders traded MNKD stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 218,500 shares were bought while 0 shares were sold. The number of buy transactions has increased to 39 while that of sell transactions has risen to 14 over the past year. The total number of shares bought during that period was 2,154,449 while 147,434 shares were sold.

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