In the last trading session, 2.66 million shares of the MannKind Corporation (NASDAQ:MNKD) were traded, and its beta was 1.86. Most recently the company’s share price was $5.12, and it changed around -$0.13 or -2.48% from the last close, which brings the market valuation of the company to $1.31B. MNKD currently trades at a discount to its 52-week high of $6.25, offering almost -22.07% off that amount. The share price’s 52-week low was $1.84, which indicates that the current value has risen by an impressive 64.06% since then. We note from MannKind Corporation’s average daily trading volume that its 3-month average coming to 2.53 million.
MannKind Corporation stock received a consensus recommendation rating of a Buy, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 5 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended MNKD as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. MannKind Corporation is expected to report earnings per share of -$0.05 for the current quarter.
MannKind Corporation (NASDAQ:MNKD) trade information
Instantly MNKD has showed a red trend with a performance of -2.48% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 5.44 on Friday, 10/08/21 increased the stock’s daily price by 5.88%. The company’s shares are currently up 63.58% year-to-date, but still up 13.27% over the last five days. On the other hand, MannKind Corporation (NASDAQ:MNKD) is 8.94% up in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $5.80, which translates to bulls needing to increase their stock price by 11.72% from its current value. Analyst projections state that MNKD is forecast to be at a low of $5.00 and a high of $6.50. In order for the stock price to hit the forecast high, the stock would need to plunge -26.95% from its current level, while the stock would need to crash 2.34% from its current level to reach the projected low.
MannKind Corporation (MNKD) estimates and forecasts
MannKind Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 22.49 percent over the past six months and at a -60.00% annual growth rate that is well below the industry average of 7.00%. The year-over-year growth rate is expected to be 23.90%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $20.62 million in revenue for the current quarter. 5 analysts expect MannKind Corporation to make $19.38 million in revenue for the quarter ending Dec 2021. Forecasts for the next quarter put sales growth at 5.10%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 43.70%. MannKind Corporation earnings are expected to increase by 3.10% in 2021, but the outlook is positive 35.60% per year for the next five years.
MannKind Corporation’s next quarterly earnings report is expected to be released around November 02 and November 08.
MannKind Corporation (NASDAQ:MNKD)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 5.66% of MannKind Corporation shares, and 45.12% of them are in the hands of institutional investors. The stock currently has a share float of 47.83%. MannKind Corporation stock is held by 234 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2021, it held 8.76% of the shares, which is about 21.88 million shares worth $119.26 million.
State Street Corporation, with 6.27% or 15.66 million shares worth $85.37 million as of Jun 29, 2021, holds the second largest percentage of outstanding shares.
SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Aug 30, 2021. The former held 12.09 million shares worth $58.06 million, making up 4.84% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 6.62 million shares worth around $36.08 million, which represents about 2.65% of the total shares outstanding.