MannKind (MNKD) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

MannKind (NASDAQ:MNKD) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.02, MarketWatch Earnings reports. The firm had revenue of $4.47 million for the quarter, compared to analyst estimates of $5.28 million.

Shares of NASDAQ MNKD opened at $1.83 on Friday. The firm has a market capitalization of $279.97 million, a price-to-earnings ratio of -1.58 and a beta of 2.12. MannKind has a fifty-two week low of $0.98 and a fifty-two week high of $4.05.

MNKD has been the subject of several analyst reports. HC Wainwright set a $4.00 price objective on MannKind and gave the company a “buy” rating in a report on Wednesday, September 5th. BidaskClub raised MannKind from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 17th. Finally, Zacks Investment Research cut MannKind from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $2.51.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in MannKind by 25.4% in the 3rd quarter. Wells Fargo & Company MN now owns 237,296 shares of the biopharmaceutical company’s stock valued at $434,000 after acquiring an additional 48,126 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in MannKind in the 2nd quarter valued at $100,000. Voya Investment Management LLC acquired a new position in MannKind in the 2nd quarter valued at $102,000. Bank of America Corp DE raised its holdings in MannKind by 82.3% in the 2nd quarter. Bank of America Corp DE now owns 123,414 shares of the biopharmaceutical company’s stock valued at $235,000 after acquiring an additional 55,721 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in MannKind in the 2nd quarter valued at $109,000. 25.46% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: What is the 52-week high/low?

Earnings History for MannKind (NASDAQ:MNKD)

Receive News & Ratings for MannKind Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MannKind and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply