In the last trading session, 2.58 million shares of the Mannkind Corp (NASDAQ:MNKD) were traded, and its beta was 1.28. Most recently the company’s share price was $4.53, and it changed around -$0.1 or -2.16% from the last close, which brings the market valuation of the company to $1.23B. MNKD currently trades at a discount to its 52-week high of $5.75, offering almost -26.93% off that amount. The share price’s 52-week low was $3.17, which indicates that the current value has risen by an impressive 30.02% since then. We note from Mannkind Corp’s average daily trading volume that its 10-day average is 3.15 million shares, with the 3-month average coming to 3.17 million.
Mannkind Corp stock received a consensus recommendation rating of Overweight, based on a mean score of 1.33. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 recommended MNKD as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Mannkind Corp is expected to report earnings per share of $0.03 for the current quarter.
Mannkind Corp (NASDAQ:MNKD) trade information
Instantly MNKD has showed a red trend with a performance of -2.16% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 24.45% year-to-date, but still down -4.83% over the last five days. On the other hand, Mannkind Corp (NASDAQ:MNKD) is 15.56% up in the 30-day period. We can see from the shorts that 33.05 million shares have been sold at a short interest cover period of 7.9 day(s).
The consensus price target as assigned by Wall Street analysts is $10, which translates to bulls needing to increase their stock price by 54.7% from its current value. Analyst projections state that MNKD is forecast to be at a low of $10 and a high of $10.
Mannkind Corp (MNKD) estimates and forecasts
Mannkind Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 10.49 percent over the past six months and at a 200.00% annual growth rate that is well above the industry average of 13.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 175.00% in revenue this quarter, and will report an increase of 250.00% in the next quarter. The year-over-year growth rate is expected to be 27.80%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $60.34 million in revenue for the current quarter. 5 analysts expect Mannkind Corp to make $63.45 million in revenue for the quarter ending Jun 2024. Forecasts for the next quarter put sales growth at 30.50%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 40.58%. Mannkind Corp earnings are expected to increase by 385.42% in 2024, but the outlook is positive 35.60% per year for the next five years.
MNKD Dividends
Mannkind Corp’s next quarterly earnings report is expected to be released around May 07 and May 13.
Mannkind Corp (NASDAQ:MNKD)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.66% of Mannkind Corp shares, and 50.23% of them are in the hands of institutional investors. The stock currently has a share float of 51.60%. Mannkind Corp stock is held by 265 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 7.67% of the shares, which is about 20.57 million shares worth $83.72 million.
State Street Corporation, with 5.71% or 15.31 million shares worth $62.32 million as of Jun 29, 2023, 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, 2023. The former held 9.98 million shares worth $46.01 million, making up 3.72% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 7.76 million shares worth around $31.57 million, which represents about 2.89% of the total shares outstanding.
