What's Going On With MannKind Stock?

MannKind Corporation MNKD shares are trending on social media Monday. Here's a look at what's going on.

What To Know:

The company announced initial meal challenge data from INHALE-3, a Phase 4 clinical trial evaluating inhaled insulin (plus basal) versus the current standard of care.

“One of the challenges of inhaled insulin adoption has been under-dosing when converting from injectable insulin, which causes patients to experience hyperglycemia,” said Dr. Kevin Kaiserman, senior vice president of clinical development and medical affairs for MannKind Corporation. 

“In this large, randomized trial utilizing more appropriate dose conversion, we are excited to see meal challenge results support the safety and efficacy of inhaled insulin from the start.”

On Feb. 27, MannKind reported fourth-quarter earnings of 2 cents per share and quarterly sales of $58.47 million which beat the analyst consensus estimate of $53.58 million. 

CNBC's Jim Cramer mentioned the stock on the “Mad Money Lightning Round” Friday. 

MannKind has been “hanging out there forever, and it's finally starting to look like it's going to have an earnings breakout, but I am one of those people who's jaundiced about it. I got to wait to see if they come up with something,” Cramer said.

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Will MNKD Stock Go Up?

When trying to assess whether or not MannKind will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $7.0 on MannKind. The Street high target is currently at $7.50 and the Street low target is $6.50. Of all the analysts covering MannKind, 2 have positive ratings, no one has neutral ratings and no one has negative ratings.

In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering MannKind have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. MannKind is 12.42% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about MannKind, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

MNKD Price Action: According to Benzinga Pro, MannKind shares are down 8.35% at $4.82 at the time of publication.

Image: Bob Williams from Pixabay