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MannKind Corporation (NASDAQ: MNKD) Stock Has Dropped -23.25% Over The Month – Is There Room For Growth?

MannKind Corporation (NASDAQ:MNKD)’s traded shares stood at 2.89 million during the last session, with the company’s beta value hitting 1.65. At the close of trading, the stock’s price was $4.16, to imply an increase of 1.71% or $0.07 in intraday trading. The MNKD share’s 52-week high remains $5.73, putting it -37.74% down since that peak but still an impressive 37.26% since price per share fell to its 52-week low of $2.61. The company has a valuation of $1.13B, with an average of 3.54 million shares in intraday trading volume over the past 10 days and average of 3.78 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for MannKind Corporation (MNKD), translating to a mean rating of 1.70. Of 6 analyst(s) looking at the stock, 0 analyst(s) give MNKD a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 5 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.06.

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MannKind Corporation (NASDAQ:MNKD) trade information

After registering a 1.71% upside in the last session, MannKind Corporation (MNKD) has traded red over the past five days. The stock hit a weekly high of 4.65 this Thursday, 03/16/23, jumping 1.71% in its intraday price action. The 5-day price performance for the stock is -9.96%, and -23.25% over 30 days. With these gigs, the year-to-date price performance is -21.06%. Short interest in MannKind Corporation (NASDAQ:MNKD) saw shorts transact 34.32 million shares and set a 9.84 days time to cover.

Analysts on Wall Street suggest a consensus price target of $6.67, implying an increase of 37.63% to the stock’s current value. The extremes give us $5.00 and $8.00 for target low and target high price respectively. As such, MNKD has been trading -92.31% off suggested target high and -20.19% from its likely low.

MannKind Corporation (MNKD) estimates and forecasts

Looking at statistics comparing MannKind Corporation share performance against respective industry, we note that the company has outperformed competitors. MannKind Corporation (MNKD) shares are 5.32% up over the last 6 months, with its year-to-date growth rate higher than industry average at 58.82% against 9.40%. The rating firms project that company’s revenue will grow 32.00% compared to the previous financial year.

Revenue forecast for the current quarter as set by 6 analysts is $35.51 million.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 21.30% for the past 5-year period. While 2023 is set for a -4.70% return in earnings, projections for the next 5 years are at 35.60% annually.

MNKD Dividends

MannKind Corporation has its next earnings report out between May 03 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. MannKind Corporation has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

MannKind Corporation (NASDAQ:MNKD)’s Major holders

MannKind Corporation insiders hold 6.18% of total outstanding shares, with institutional holders owning 48.95% of the shares at 52.18% float percentage. In total, 48.95% institutions holds shares in the company, led by State Street Corporation. As of Sep 29, 2022, the company held over 20.83 million shares (or 7.92% of shares), all amounting to roughly $64.37 million.

The next major institution holding the largest number of shares is Blackrock Inc. with 20.27 million shares, or about 7.70% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $62.63 million.

We also have SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the MannKind Corporation (MNKD) shares. Going by data provided on Dec 30, 2022, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF holds roughly 12.28 million shares. This is just over 4.66% of the total shares, with a market valuation of $64.69 million. Data from the same date shows that the other fund manager holds a little less at 7.22 million, or 2.74% of the shares, all valued at about 22.31 million.

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