MannKind Co. (NASDAQ:MNKD) Expected to Post Earnings of -$0.07 Per Share

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Analysts forecast that MannKind Co. (NASDAQ:MNKD) will post ($0.07) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for MannKind’s earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at ($0.06). MannKind posted earnings per share of ($0.06) during the same quarter last year, which indicates a negative year over year growth rate of 16.7%. The firm is expected to report its next earnings results on Tuesday, February 25th.

According to Zacks, analysts expect that MannKind will report full-year earnings of ($0.29) per share for the current year, with EPS estimates ranging from ($0.32) to ($0.26). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.24) per share, with EPS estimates ranging from ($0.29) to ($0.17). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow MannKind.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. The firm had revenue of $14.60 million for the quarter, compared to analyst estimates of $15.03 million. During the same quarter in the prior year, the company earned ($0.16) earnings per share.

Several analysts have issued reports on the company. BidaskClub upgraded MannKind from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $2.50 price objective on shares of MannKind in a research note on Thursday. ValuEngine upgraded MannKind from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald assumed coverage on MannKind in a research note on Thursday, October 24th. They set an “overweight” rating and a $3.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $2.90.

Shares of NASDAQ MNKD traded up $0.01 on Thursday, hitting $1.26. The company had a trading volume of 2,692,300 shares, compared to its average volume of 2,394,064. The business has a 50 day moving average of $1.30 and a two-hundred day moving average of $1.23. MannKind has a 12-month low of $0.94 and a 12-month high of $2.34. The firm has a market capitalization of $282.53 million, a P/E ratio of -2.14 and a beta of 2.36.

A number of hedge funds and other institutional investors have recently made changes to their positions in MNKD. California Public Employees Retirement System raised its position in shares of MannKind by 8.8% during the 3rd quarter. California Public Employees Retirement System now owns 114,804 shares of the biopharmaceutical company’s stock worth $144,000 after purchasing an additional 9,328 shares during the period. Royal Bank of Canada raised its position in shares of MannKind by 12.8% during the 2nd quarter. Royal Bank of Canada now owns 84,633 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 9,599 shares during the period. JPMorgan Chase & Co. raised its position in shares of MannKind by 28.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 53,503 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 11,813 shares during the period. Dupont Capital Management Corp raised its position in shares of MannKind by 2.6% during the 3rd quarter. Dupont Capital Management Corp now owns 507,200 shares of the biopharmaceutical company’s stock worth $634,000 after purchasing an additional 13,000 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in shares of MannKind by 32.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 60,238 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 14,590 shares during the period. Hedge funds and other institutional investors own 26.62% of the company’s stock.

MannKind Company Profile

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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