Traders Buy Large Volume of Call Options on MannKind (MNKD)
Shares of MannKind (NASDAQ:MNKD) were the target of unusually large options trading on Monday. Stock investors purchased 62,634 call options on the company, AnalystRatingsNetwork reports. This is an increase of 334% compared to the typical volume of 14,416 call options.
In other MannKind news, VP David Thomson sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $8.16, for a total value of $244,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
MNKD has been the subject of a number of recent research reports. 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.93.
Shares of MannKind (NASDAQ:MNKD) traded up 4.92% on Monday, hitting $8.53. The stock had a trading volume of 62,476,888 shares. MannKind has a 1-year low of $3.80 and a 1-year high of $11.48. The stock’s 50-day moving average is $9.48 and its 200-day moving average is $7.40. The company’s market cap is $3.224 billion.
MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.12) by $0.07. On average, analysts predict that MannKind will post $-0.36 earnings per share for the current fiscal year.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
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