-$0.04 EPS Expected for MannKind Co. (NASDAQ:MNKD) This Quarter

Brokerages expect MannKind Co. (NASDAQ:MNKD) to post earnings per share (EPS) of ($0.04) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for MannKind’s earnings. The lowest EPS estimate is ($0.05) and the highest is ($0.04). MannKind reported earnings per share of ($0.03) during the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The firm is scheduled to announce its next earnings results on Wednesday, May 5th.

On average, analysts expect that MannKind will report full-year earnings of ($0.17) per share for the current fiscal year, with EPS estimates ranging from ($0.20) to ($0.15). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.13) per share, with EPS estimates ranging from ($0.17) to ($0.08). Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow MannKind.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Thursday, February 25th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The company had revenue of $18.44 million during the quarter, compared to the consensus estimate of $16.13 million.

A number of brokerages recently commented on MNKD. HC Wainwright raised their price target on MannKind from $2.50 to $6.50 in a research note on Friday, February 26th. Oppenheimer reaffirmed a “buy” rating and issued a $7.00 price target on shares of MannKind in a research note on Wednesday, February 17th. SVB Leerink raised their price target on MannKind from $3.00 to $5.00 and gave the stock an “outperform” rating in a research note on Thursday, March 11th. BTIG Research boosted their target price on shares of MannKind from $4.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, February 24th. Finally, Zacks Investment Research upgraded shares of MannKind from a “sell” rating to a “hold” rating in a report on Wednesday, March 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. MannKind currently has a consensus rating of “Buy” and an average target price of $5.70.

MNKD stock traded up $0.08 on Friday, reaching $4.16. The company’s stock had a trading volume of 87,887 shares, compared to its average volume of 6,041,216. The business has a fifty day simple moving average of $4.29 and a two-hundred day simple moving average of $3.30. MannKind has a 12-month low of $0.99 and a 12-month high of $6.25. The firm has a market cap of $1.03 billion, a PE ratio of -19.67 and a beta of 2.28.

Several hedge funds have recently made changes to their positions in the company. Aperio Group LLC bought a new position in MannKind in the 4th quarter worth about $32,000. Pacer Advisors Inc. bought a new position in MannKind in the 4th quarter worth about $34,000. XTX Markets LLC bought a new position in MannKind in the 4th quarter worth about $38,000. HighTower Advisors LLC boosted its stake in MannKind by 29.5% in the 4th quarter. HighTower Advisors LLC now owns 14,321 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 3,260 shares in the last quarter. Finally, Merriman Wealth Management LLC bought a new position in MannKind in the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 29.60% of the company’s stock.

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. The company offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes. It also promotes Thyquidity used for the treatment of hypothyroidism.

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