Equities analysts expect that MannKind Co. (NASDAQ:MNKD) will post sales of $15.43 million for the current quarter, according to Zacks. Three analysts have issued estimates for MannKind’s earnings. The highest sales estimate is $15.70 million and the lowest is $14.88 million. MannKind posted sales of $15.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.9%. The firm is expected to report its next earnings report on Wednesday, August 5th.
According to Zacks, analysts expect that MannKind will report full year sales of $65.53 million for the current year, with estimates ranging from $63.30 million to $67.90 million. For the next fiscal year, analysts anticipate that the firm will post sales of $90.33 million, with estimates ranging from $79.49 million to $110.80 million. Zacks’ sales averages are an average based on a survey of analysts that cover MannKind.
MannKind (NASDAQ:MNKD) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. The company had revenue of $16.24 million for the quarter, compared to analyst estimates of $15.15 million.
Shares of MNKD traded down $0.02 during midday trading on Wednesday, hitting $1.40. The stock had a trading volume of 2,297,107 shares, compared to its average volume of 2,233,089. MannKind has a fifty-two week low of $0.80 and a fifty-two week high of $1.88. The business has a 50-day simple moving average of $1.33 and a two-hundred day simple moving average of $1.31. The firm has a market cap of $298.40 million, a P/E ratio of -6.09 and a beta of 2.20.
A number of hedge funds and other institutional investors have recently bought and sold shares of MNKD. Metropolitan Life Insurance Co NY acquired a new stake in MannKind in the first quarter valued at approximately $117,000. State Street Corp lifted its stake in MannKind by 6.7% in the third quarter. State Street Corp now owns 3,330,958 shares of the biopharmaceutical company’s stock valued at $4,164,000 after acquiring an additional 208,435 shares during the last quarter. Dupont Capital Management Corp lifted its stake in MannKind by 18.4% in the fourth quarter. Dupont Capital Management Corp now owns 600,300 shares of the biopharmaceutical company’s stock valued at $774,000 after acquiring an additional 93,100 shares during the last quarter. California Public Employees Retirement System lifted its stake in MannKind by 174.3% in the fourth quarter. California Public Employees Retirement System now owns 314,960 shares of the biopharmaceutical company’s stock valued at $406,000 after acquiring an additional 200,156 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in MannKind in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 24.45% 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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