Stocks to Watch: MannKind Corporation (MNKD), Incyte Corporation (INCY)


MannKind Corporation(NASDAQ:MNKD):

The company’s RSI reading has hit 83.92. The stock edged higher by 5.50% to close previous trading session at USD 2.11.

The shares of the company fluctuated in the range of USD 0.64 and USD 7.32 in the course of 52 weeks. Over the three months, the company’s shares have surged by 36.13% and in the past one year, it has lost-59.89%. Additionally, the stock’s year to date performance has improved45.52%. Over the last five days its shares have surged by 51.80% and in the past six months it has moved down-39.02%.

The stock’s weekly volatility is calculated as 19.48% and monthly volatility as 12.86% with ATR of 0.17, beta of 1.49 and price to cash ratio of15.31.

MannKind Corporation (MNKD) on March 14, 2016 reported financial results for the fourth quarter and full year ended December 31, 2015.

For the fourth quarter of 2015, research and development expenses decreased 64.8%, from $17.6 million to $6.2 million, reflecting effects of our restructuring measures taken in 2015 and the transition from development to commercial activities.  General and administrative costs declined 33.6%, from $12.5 million to $8.3 million, mainly due to a decrease in non-cash stock compensation expense.  Sales of Afrezza continued to be lower than expected during the fourth quarter of 2015, culminating in a decision by Sanofi on January 4, 2016 to return the Afrezza rights to MannKind after a notice period, all of which impacted the value and recoverability of long-lived assets in accordance with accounting guidance.  As a result, non-cash impairment charges of $206.6 million were recorded for the fourth quarter of 2015, of which $140.4 million related to impairment of fixed assets and $66.2 million related to loss on future purchase commitments, primarily for insulin.  No such impairment charge was recognized in 2014.  Product manufacturing costs for the fourth quarter of 2015 were $51.8 million related to under absorbed labor and overhead and inventory write-offs. We did not recognize any product manufacturing costs in the fourth quarter of 2014 as we had not yet commenced commercialization of Afrezza.

Incyte Corporation(NASDAQ:INCY):

The stock increased by 5.44% to close last trading session at USD 68.61. The company’s shares oscillated in the range of USD 64.77 and USD 69.25 during intraday trade.

A total of 1.79 million shares exchanged hands, below its 3 month average volume of 2.60 million shares. Over the last five days its shares have declined by -0.54% and in the past six months it has moved down-45.52%.

Furthermore, the stock has weekly volatility of 6.39% and monthly volatility of 5.20% with ATR of 4.18. The stock’s RSI is 47.29 and distance from 50-day simple moving average is -6.87%, whereas its distance from 20-day simple moving average is -3.02% and distance from 200-day simple moving average is -32.47%.

Incyte Corporation (INCY) on March 16, 2016 announced that ten abstracts featuring data from its emerging development portfolio will be presented at the upcoming American Association for Cancer Research (AACR) Annual Meeting 2016 in New Orleans, Louisiana from April 16–20, 2016. These abstracts include data from the Company’s monoclonal antibody agonist programs targeting GITR and OX40 as well as its small molecule inhibitor programs targeting LSD1, BRD (BET), PI3Kδ and JAK1.

Incyte Corporation is a Wilmington, Delaware-based biopharmaceutical company focused on the discovery, development and commercialization of proprietary therapeutics.