Short Interest in MannKind Increases By 6.6% (MNKD)
Shares of MannKind (NASDAQ:MNKD) were the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 77,343,842 shares, a growth of 6.6% from the July 31st total of 72,584,807 shares, Analyst Ratings Net reports. Based on an average daily volume of 17,109,430 shares, the days-to-cover ratio is currently 4.5 days. Approximately 31.0% of the company’s stock are short sold.
Several analysts have recently commented on the stock. Analysts at Jefferies Group initiated coverage on shares of MannKind in a research note on Wednesday. They set a “buy” rating and a $10.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of MannKind in a research note on Wednesday, August 13th. They now have a $7.75 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of MannKind from $16.00 to $13.00 in a research note on Tuesday, August 12th. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. MannKind has a consensus rating of “Hold” and a consensus target price of $9.36.
MannKind (NASDAQ:MNKD) opened at 7.32 on Friday. 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 $8.36 and a 200-day moving average of $7.59. The company’s market cap is $2.818 billion.
MannKind (NASDAQ:MNKD) last released its 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. During the same quarter in the prior year, the company posted ($0.16) earnings per share. On average, analysts predict that MannKind will post $-0.37 earnings per share for the current fiscal year.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
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