-$0.08 EPS Expected for MannKind Co. (NASDAQ:MNKD) This Quarter

Wall Street analysts predict that MannKind Co. (NASDAQ:MNKD) will post earnings of ($0.08) per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for MannKind’s earnings. The lowest EPS estimate is ($0.10) and the highest is ($0.06). MannKind posted earnings of ($0.16) per share during the same quarter last year, which suggests a positive year over year growth rate of 50%. The business is expected to report its next quarterly earnings results on Thursday, August 1st.

According to Zacks, analysts expect that MannKind will report full year earnings of ($0.30) per share for the current financial year, with EPS estimates ranging from ($0.31) to ($0.28). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.16) per share, with EPS estimates ranging from ($0.22) to ($0.06). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for MannKind.

MannKind (NASDAQ:MNKD) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. The company had revenue of $17.45 million during the quarter, compared to analysts’ expectations of $18.03 million. During the same quarter last year, the business posted ($0.25) earnings per share.

MNKD has been the topic of several analyst reports. Svb Leerink initiated coverage on MannKind in a research note on Monday, March 4th. They issued an “outperform” rating and a $3.00 target price on the stock. Leerink Swann initiated coverage on MannKind in a research note on Monday, March 4th. They issued an “outperform” rating and a $3.00 target price on the stock. HC Wainwright lowered their target price on MannKind from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. BidaskClub upgraded MannKind from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, BTIG Research initiated coverage on MannKind in a research note on Tuesday, May 14th. They issued a “buy” rating and a $3.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $3.00.

Several hedge funds have recently made changes to their positions in MNKD. CVI Holdings LLC purchased a new position in shares of MannKind in the 4th quarter valued at approximately $11,359,000. Raging Capital Management LLC boosted its stake in shares of MannKind by 7,166.3% in the fourth quarter. Raging Capital Management LLC now owns 3,444,971 shares of the biopharmaceutical company’s stock valued at $3,652,000 after buying an additional 3,397,561 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of MannKind in the fourth quarter valued at approximately $2,649,000. Vanguard Group Inc boosted its stake in shares of MannKind by 4.7% in the third quarter. Vanguard Group Inc now owns 6,627,801 shares of the biopharmaceutical company’s stock valued at $12,128,000 after buying an additional 299,794 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of MannKind by 4.7% in the third quarter. Vanguard Group Inc. now owns 6,627,801 shares of the biopharmaceutical company’s stock valued at $12,128,000 after buying an additional 299,794 shares in the last quarter. Institutional investors own 26.96% of the company’s stock.

Shares of MNKD stock opened at $1.12 on Friday. The company has a 50 day moving average of $1.21. MannKind has a twelve month low of $0.94 and a twelve month high of $3.04. The stock has a market cap of $210.32 million, a P/E ratio of -1.90 and a beta of 2.53.

About MannKind

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.

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Earnings History and Estimates for MannKind (NASDAQ:MNKD)

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