Hot Biotech Movers: MannKind Corporation (NASDAQ:MNKD), Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), Ariad Pharmaceuticals (NASDAQ:ARIA), Gilead Sciences, Inc. (NASDAQ:GILD), Chelsea Therapeutics (NASDAQ:CHTP)

Technology Stocks News 11

MannKind Corporation (NASDAQ:MNKD) loss of 14 cents per share in the first quarter of 2014 was wider than the Zacks Consensus Estimate by a penny but narrower than the year-ago loss by a penny. MannKind Corporation (NASDAQ:MNKD) did not generate any revenue in the first quarter of 2014, as in the year-ago quarter. Research and development (R&D) expenses remained flat at $26.2 million in the reported quarter. MannKind Corporation (NASDAQ:MNKD) is primarily focusing on the development of its lead pipeline candidate, Afrezza, which is currently under review in the U.S. Afrezza, an inhaled insulin, is being developed for the treatment of type I and type II diabetes. General and administrative expenses increased approximately 51.7% in the reported quarter to $15.2 million. The increase was primarily attributable to higher non-cash stock-based compensation expenses and consulting and legal fees. MannKind Corporation (NASDAQ:MNKD) stock performance was 3.95% in last session and finished the day at $6.58. Traded volume was 7.88million shares in the last session and the average volume of the stock remained 10.02million shares. The beta of the stock remained 1.40. MannKind Corporation (NASDAQ:MNKD) insider ownership is 0.30%.

Arena Pharmaceuticals Inc. (NASDAQ:ARNA) fell by 5% yesterday after reporting misses on both its loss per share and revenue. Moreover, shares fell yet another 6% today as the market digested the news. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) dropped -6.29 percent to $6.41 Tuesday on volume of 7.60million shares. The intra-day range of the stock was $6.37 to $6.75. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has a market capitalization of $1.41billion.

Ariad Pharmaceuticals, Inc (NASDAQ:ARIA)‘s stock had its “market outperform” rating restated by JMP Securities in a research note issued on Thursday, Analyst Ratings Network.com reports. They currently have a $8.00 target price on the stock, down from their previous target price of $10.00. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA)’s stock on May 13, 2014 reported a decrease of -2.06% to the closing price of $6.67. Its fifty two weeks range is $2.15 -$23.00. The total market capitalization recorded $1.25billion. The overall volume in the last trading session was 7.64million shares. In its share capital, ARIA has 186.79million outstanding shares.

Gilead Sciences, Inc. (NASDAQ:GILD) today announced that its corporate presentation will be webcast from the Bank of America Merrill Lynch 2014 Health Care Conference in Las Vegas. John F. Milligan, PhD, Gilead’s President and Chief Operating Officer, and Robin Washington, Gilead Sciences, Inc. (NASDAQ:GILD)’s Executive Vice President and Chief Financial Officer, will provide an overview of the company at the conference on Wednesday, May 14 at 10:00 a.m. Pacific Time. On Tuesday, shares of Gilead Sciences, Inc. (NASDAQ:GILD) dropped -0.06% to close the day at $80.30. Company return on investment (ROI) is 18.70% and its monthly performance is recorded as 21.60%. Gilead Sciences, Inc. (NASDAQ:GILD) quarterly revenue growth is -1.83%.

Chelsea Therapeutics International Ltd (NASDAQ:CHTP) was downgraded by JMP Securities from an “outperform” rating to a “market perform” rating in a research note issued on Friday. Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) stock performance was 0.15% in last session and finished the day at $6.61. Traded volume was 7.88million shares in the last session and the average volume of the stock remained 5.50million shares. The beta of the stock remained 1.90. Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) insider ownership is 1.00%.

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