MannKind VP Sells $267,641 in Stock (MNKD)
MannKind (NASDAQ:MNKD) VP Juergen Martens sold 25,417 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $10.53, for a total transaction of $267,641.01. Following the transaction, the vice president now directly owns 89,024 shares in the company, valued at approximately $937,423. The transaction was disclosed in a filing with the SEC, which is available at this link.
MannKind (NASDAQ:MNKD) traded up 9.60% during mid-day trading on Monday, hitting $10.96. 48,803,496 shares of the company’s stock traded hands. MannKind has a 1-year low of $3.80 and a 1-year high of $11.48. The stock has a 50-day moving average of $9.2 and a 200-day moving average of $6.68. The company’s market cap is $4.142 billion. MannKind also was the recipient of unusually large options trading activity on Friday. Investors acquired 54,504 call options on the stock. This is an increase of 139% compared to the average volume of 22,847 call options.
MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.14) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.13) by $0.01. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Analysts expect that MannKind will post $-0.37 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Brinson Patrick raised their price target on shares of MannKind from $12.00 to $15.00 in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at RBC Capital initiated coverage on shares of MannKind in a research note on Thursday, June 12th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. MannKind currently has a consensus rating of “Hold” and a consensus price target of $9.21.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
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