MannKind (NASDAQ:MNKD) Releases Quarterly Earnings Results, Meets Estimates

MannKind (NASDAQ:MNKD) announced its quarterly earnings results on Wednesday. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03, Zacks reports. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The business had revenue of $76.78 million during the quarter, compared to the consensus estimate of $74.99 million.

MannKind Price Performance

Shares of NASDAQ MNKD opened at $5.26 on Thursday. MannKind has a 1 year low of $3.86 and a 1 year high of $7.63. The firm has a fifty day moving average price of $6.04 and a 200-day moving average price of $6.28. The stock has a market cap of $1.45 billion, a PE ratio of 76.67 and a beta of 1.28.

Analysts Set New Price Targets

Several research firms recently weighed in on MNKD. Wells Fargo & Company started coverage on shares of MannKind in a report on Friday, December 20th. They set an “overweight” rating and a $9.00 price target on the stock. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $7.00 to $10.00 in a research note on Thursday, December 19th. Wedbush began coverage on MannKind in a research report on Monday, February 10th. They set an “outperform” rating and a $11.00 price target for the company. Finally, StockNews.com raised MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MannKind currently has a consensus rating of “Buy” and a consensus price target of $9.21.

About MannKind

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults.