MannKind Given Average Rating of “Hold” by Analysts (NASDAQ:MNKD)
MannKind (NASDAQ:MNKD) has received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, AmericanBankingNews.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $9.36.
MNKD has been the subject of a number of recent research reports. 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.
Shares of MannKind (NASDAQ:MNKD) opened at 7.37 on Wednesday. MannKind has a 52-week low of $3.80 and a 52-week high of $11.48. The stock’s 50-day moving average is $8.29 and its 200-day moving average is $7.61. The company’s market cap is $2.838 billion. MannKind also saw a large growth in short interest in the month of 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. Based on an average trading volume of 17,109,430 shares, the days-to-cover ratio is currently 4.5 days. Approximately 31.0% of the shares of the company are short sold.
MannKind (NASDAQ:MNKD) last announced its earnings results 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 $-0.37 earnings per share for the current fiscal year.
MannKind Corporation (NASDAQ:MNKD) is a development-stage biopharmaceutical company.
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