Now Is A Good Time To Buy Mannkind Corp (NASDAQ: MNKD)

ZM Stock

During the last session, Mannkind Corp (NASDAQ:MNKD)’s traded shares were 2.81 million, with the beta value of the company hitting 1.33. At the end of the trading day, the stock’s price was $4.43, reflecting an intraday gain of 2.78% or $0.12. The 52-week high for the MNKD share is $5.75, that puts it down -29.8 from that peak though still a striking 28.44% gain since the share price plummeted to a 52-week low of $3.17. The company’s market capitalization is $1.20B, and the average intraday trading volume over the past 10 days was 2.95 million shares, and the average trade volume was 3.14 million shares over the past three months.

Mannkind Corp (NASDAQ:MNKD) trade information

Mannkind Corp (MNKD) registered a 2.78% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 2.78% in intraday trading to $4.43, hitting a weekly high. The stock’s 5-day price performance is -9.78%, and it has moved by -4.73% in 30 days. Based on these gigs, the overall price performance for the year is 8.05%. The short interest in Mannkind Corp (NASDAQ:MNKD) is 33.05 million shares and it means that shorts have 7.9 day(s) to cover.

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Mannkind Corp (MNKD) estimates and forecasts

Statistics show that Mannkind Corp has outperformed its competitors in share price, compared to the industry in which it operates. Mannkind Corp (MNKD) shares have gone up 9.93% during the last six months, with a year-to-date growth rate more than the industry average at 200.00% against 13.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 175.00% this quarter and then jump 250.00% in the quarter after that. In the rating firms’ projections, revenue will increase 27.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $60.34 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $63.45 million by the end of Jun 2024.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 40.58%. While earnings are projected to return 385.42% in 2024, the next five years will return 35.60% per annum.

MNKD Dividends

Mannkind Corp is due to release its next quarterly earnings between May 07 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Mannkind Corp (NASDAQ:MNKD)’s Major holders

Mannkind Corp insiders own 2.65% of total outstanding shares while institutional holders control 50.23%, with the float percentage being 51.60%. Blackrock Inc. is the largest shareholder of the company, while 263 institutions own stock in it. As of Dec 30, 2023, the company held over 22.3 million shares (or 8.25% of all shares), a total value of $98.78 million in shares.

The next largest institutional holding, with 15.25 million shares, is of Vanguard Group Inc’s that is approximately 5.64% of outstanding shares. At the market price on Dec 30, 2023, these shares were valued at $67.55 million.

Also, the Mutual Funds coming in first place with the largest holdings of Mannkind Corp (MNKD) shares are Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF. Data provided on Dec 30, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 8.0 million shares. This amounts to just over 2.96 percent of the company’s overall shares, with a $35.43 million market value. The same data shows that the other fund manager holds slightly less at 7.14 million, or about 2.64% of the stock, which is worth about $31.61 million.