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Analysts at RBC Capital reduced their price target on shares of MannKind (NASDAQ:MNKD) from $16.00 to $13.00 in a research report issued to clients and investors on Tuesday. RBC Capital’s price target points to a potential upside of 52.40% from the stock’s previous close.

MannKind (NASDAQ:MNKD) traded down 10.90% on Tuesday, hitting $7.5999. 30,152,800 shares of the company’s stock traded hands. MannKind has a 52 week low of $3.80 and a 52 week high of $11.48. The stock has a 50-day moving average of $9.43 and a 200-day moving average of $7.44. The company’s market cap is $2.872 billion. MannKind also was the target of some unusual options trading activity on Monday. Stock traders bought 62,634 call options on the stock. This represents an increase of 334% compared to the average volume of 14,416 call options.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.19) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.12) by $0.07. During the same quarter last year, the company posted ($0.16) earnings per share. On average, analysts predict that MannKind will post $-0.35 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on MNKD. 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 one has assigned a buy rating to the company. MannKind presently has a consensus rating of “Hold” and a consensus target price of $9.50.

In other MannKind news, VP David Thomson unloaded 30,000 shares of MannKind stock on the open market in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $8.16, for a total transaction of $244,800.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.

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