MannKind Corporation (NASDAQ: MNKD) stock fell -0.23% on Monday to $4.34 against a previous-day closing price of $4.35. With 3.34 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.89 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $4.6400 whereas the lowest price it dropped to was $4.2850. The 52-week range on MNKD shows that it touched its highest point at $5.75 and its lowest point at $2.91 during that stretch. It currently has a 1-year price target of $6.70. Beta for the stock currently stands at 1.59.
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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 down-trending over the past week, with a drop of -0.23%, but this was down by -12.32% over a month. Three-month performance surged to 6.11% while six-month performance rose 6.63%. The stock gained 16.04% in the past year, while it has lost -17.65% so far this year. A look at the trailing 12-month EPS for MNKD yields -0.18 with Next year EPS estimates of 0.16. For the next quarter, that number is -0.02. This implies an EPS growth rate of -4.70% for this year and 328.60% 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 21.30%.
Float and Shares Shorts:
At present, 265.63 million MNKD shares are outstanding with a float of 261.43 million shares on hand for trading. On Aug 30, 2023, short shares totaled 39.14 million, which was 14.59% higher than short shares on Jul 30, 2023. 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 53.89% of MNKD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 5.29% of MNKD, in contrast to 25.99% held by mutual funds. Shares owned by individuals account for 23.80%. As the largest shareholder in MNKD with 6.85% of the stake, BlackRock Fund Advisors holds 18,377,273 shares worth 18,377,273. A second-largest stockholder of MNKD, SSgA Funds Management, Inc., holds 15,312,780 shares, controlling over 5.71% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in MNKD, holding 13,973,537 shares or 5.21% stake. With a 3.81% stake in MNKD, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 10,224,797 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.89% of MNKD stock, is the second-largest Mutual Fund holder. It holds 7,757,777 shares valued at 35.76 million. Fidelity Select Port. – Biotechno holds 2.40% of the stake in MNKD, owning 6,449,301 shares worth 29.73 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, MNKD reported revenue of $18.89M and operating income of -$24.96M. The EBITDA in the recently reported quarter was -$20.99M and diluted EPS was -$0.11.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MNKD since 0 analysts follow the stock currently. 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 $7.50 and a low target of $5.00, the average target price over the next 12 months is $6.70. Based on these targets, MNKD could surge 72.81% to reach the target high and rise by 15.21% to reach the target low. Reaching the average price target will result in a growth of 54.38% 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.
Summary of Insider Activity:
Insiders traded MNKD stock several times over the past three months with 0 Buys and 4 Sells. In these transactions, 0 shares were bought while 30,000 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 25 over the past year. The total number of shares bought during that period was 3,187,504 while 1,935,715 shares were sold.
