Insider Selling: David Thomson Sells 30,000 Shares of MannKind Stock (MNKD)
MannKind (NASDAQ:MNKD) VP David Thomson sold 30,000 shares of MannKind stock on the open market in a transaction dated Thursday, August 7th. The stock was sold at an average price of $8.16, for a total value of $244,800.00. Following the transaction, the vice president now directly owns 220,400 shares in the company, valued at approximately $1,798,464. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on MNKD shares. Analysts at ISI Group downgraded shares of MannKind from a “buy” rating to a “hold” rating in a research note on Tuesday, July 1st. They now have a $11.00 price target on the stock, up previously from $10.00. Separately, analysts at MLV & Co
downgraded shares of MannKind from a “buy” rating to a “hold” rating in a research note on Tuesday, July 1st. They now have a $11.00 price target on the stock, up previously from $10.00. They noted that the move was a valuation call. Finally, analysts at Brinson Patrick raised their price target on shares of MannKind from $12.00 to $15.00 in a research note on Monday, June 30th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $9.93.
MannKind (NASDAQ:MNKD) traded up 0.06% during mid-day trading on Friday, hitting $8.13. The stock had a trading volume of 9,265,435 shares. 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 $9.48 and a 200-day moving average of $7.40. The company’s market cap is $3.073 billion.
MannKind (NASDAQ:MNKD) last released its earnings data on Monday, May 12th. The company reported ($0.14) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.13) by $0.01. During the same quarter last 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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