MannKind Corporation (NASDAQ: MNKD) Fell -85.19%, Predicting What To Expect In The Near Future – Marketing Sentinel
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MannKind Corporation (NASDAQ: MNKD) Fell -85.19%, Predicting What To Expect In The Near Future

During the recent session, MannKind Corporation (NASDAQ:MNKD)’s traded shares were 0.89 million, with the beta value of the company hitting 1.82. At the last check today, the stock’s price was $4.32, reflecting an intraday gain of 0.58% or $0.03. The 52-week high for the MNKD share is $5.44, that puts it down -25.93 from that peak though still a striking 42.36% gain since the share price plummeted to a 52-week low of $2.49. The company’s market capitalization is $1.10B, and the average intraday trading volume over the past 10 days was 3.55 million shares, and the average trade volume was 6.00 million shares over the past three months.

MannKind Corporation (MNKD) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.70. MNKD has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.09.

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MannKind Corporation (NASDAQ:MNKD) trade information

MannKind Corporation (MNKD) registered a 0.58% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.58% in intraday trading to $4.32 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 22.57%, and it has moved by 4.13% in 30 days. Based on these gigs, the overall price performance for the year is 6.45%. The short interest in MannKind Corporation (NASDAQ:MNKD) is 28.84 million shares and it means that shorts have 5.52 day(s) to cover.

The consensus price target of analysts on Wall Street is $6.00, which implies an increase of 28.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $5.00 and $8.00 respectively. As a result, MNKD is trading at a discount of -85.19% off the target high and -15.74% off the low.

MannKind Corporation (MNKD) estimates and forecasts

Statistics show that MannKind Corporation has underperformed its competitors in share price, compared to the industry in which it operates. MannKind Corporation (MNKD) shares have gone up 18.84% during the last six months, with a year-to-date growth rate less than the industry average at -6.25% against 1.00. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 35.70% this quarter and then drop -300.00% in the quarter after that. In the rating firms’ projections, revenue will increase 8.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $15.62 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $20.77 million by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -17.50%. While earnings are projected to return -26.30% in 2022, the next five years will return 35.60% per annum.

MNKD Dividends

MannKind Corporation is due to release its next quarterly earnings between February 23 and February 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

MannKind Corporation (NASDAQ:MNKD)’s Major holders

MannKind Corporation insiders own 6.43% of total outstanding shares while institutional holders control 46.08%, with the float percentage being 49.24%. Blackrock Inc. is the largest shareholder of the company, while 256 institutions own stock in it. As of Mar 30, 2022, the company held over 20.73 million shares (or 8.21% of all shares), a total value of $76.3 million in shares.

The next largest institutional holding, with 14.7 million shares, is of State Street Corporation’s that is approximately 5.82% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $54.11 million.

Also, the Mutual Funds coming in first place with the largest holdings of MannKind Corporation (MNKD) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. Data provided on Jun 29, 2022 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 7.56 million shares. This amounts to just over 2.99 percent of the company’s overall shares, with a $28.82 million market value. The same data shows that the other fund manager holds slightly less at 6.95 million, or about 2.75% of the stock, which is worth about $25.57 million.

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