MannKind VP Juergen Martens Sells 25,000 Shares (MNKD)
MannKind (NASDAQ:MNKD) VP Juergen Martens sold 25,000 shares of the company’s stock on the open market in a transaction dated Friday, May 23rd. The stock was sold at an average price of $7.65, for a total value of $191,250.00. Following the sale, the vice president now directly owns 114,024 shares in the company, valued at approximately $872,284. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on MNKD. Analysts at Zacks reiterated a “neutral” rating on shares of MannKind in a research note on Wednesday, May 14th. They now have a $7.00 price target on the stock. Separately, analysts at Piper Jaffray upgraded shares of MannKind from an “underweight” rating to a “neutral” rating in a research note on Wednesday, May 14th. They now have a $6.50 price target on the stock, up previously from $2.00. They noted that the move was a valuation call. Finally, analysts at MLV & Co
reiterated a “buy” rating on shares of MannKind in a research note on Tuesday, May 13th. They now have a $10.00 price target on the stock, down previously from $11.00. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. MannKind presently has a consensus rating of “Hold” and a consensus price target of $7.58.
Shares of MannKind (NASDAQ:MNKD) traded up 2.96% during mid-day trading on Tuesday, hitting $8.00. The stock had a trading volume of 7,935,179 shares. MannKind has a 52 week low of $3.80 and a 52 week high of $8.70. The stock has a 50-day moving average of $6.68 and a 200-day moving average of $5.78. The company’s market cap is $3.023 billion. MannKind also saw unusually large options trading activity on Monday. Stock investors acquired 10,217 put options on the stock. This is an increase of approximately 157% compared to the average volume of 3,982 put options.
MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.01. During the same quarter in the previous year, the company posted ($0.15) earnings per share. Analysts expect that MannKind will post $-0.36 EPS for the current fiscal year.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
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