Brokerages Expect MannKind Co. (NASDAQ:MNKD) to Announce -$0.07 EPS

Wall Street analysts expect MannKind Co. (NASDAQ:MNKD) to announce ($0.07) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for MannKind’s earnings, with estimates ranging from ($0.09) to ($0.06). MannKind reported earnings per share of ($0.06) in the same quarter last year, which would suggest a negative year-over-year growth rate of 16.7%. The company is scheduled to announce its next quarterly earnings report on Tuesday, February 25th.

On average, 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 anticipate that the firm will report earnings of ($0.24) per share, with EPS estimates ranging from ($0.29) to ($0.17). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover MannKind.

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

MNKD has been the subject of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on shares of MannKind in a research report on Thursday, October 24th. They set an “overweight” rating and a $3.00 price target for the company. ValuEngine upgraded shares of MannKind from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and set a $2.50 price target on shares of MannKind in a research report on Thursday. Finally, BidaskClub upgraded shares of MannKind from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $2.90.

Shares of NASDAQ MNKD traded up $0.01 during trading 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. MannKind has a fifty-two week low of $0.94 and a fifty-two week high of $2.34. The firm has a market capitalization of $282.53 million, a price-to-earnings ratio of -2.14 and a beta of 2.36. The stock has a fifty day simple moving average of $1.30 and a two-hundred day simple moving average of $1.23.

Hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. acquired a new position in shares of MannKind in the second quarter valued at approximately $452,000. Chicago Equity Partners LLC acquired a new position in shares of MannKind in the second quarter valued at approximately $259,000. Vanguard Group Inc. grew its holdings in shares of MannKind by 5.7% in the second quarter. Vanguard Group Inc. now owns 9,827,368 shares of the biopharmaceutical company’s stock valued at $11,301,000 after purchasing an additional 526,309 shares in the last quarter. Scopia Capital Management LP acquired a new position in shares of MannKind in the second quarter valued at approximately $1,074,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of MannKind in the second quarter valued at approximately $33,000. 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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Earnings History and Estimates for MannKind (NASDAQ:MNKD)

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