MannKind (NASDAQ:MNKD) Issues Earnings Results, Beats Expectations By $0.02 EPS

MannKind (NASDAQ:MNKD) announced its quarterly earnings results on Wednesday. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02, Briefing.com reports. The firm had revenue of $66.26 million for the quarter, compared to analysts’ expectations of $60.55 million. During the same period last year, the company posted ($0.04) earnings per share. The business’s quarterly revenue was up 63.1% on a year-over-year basis.

MannKind Trading Down 1.4 %

Shares of NASDAQ:MNKD traded down $0.06 on Friday, reaching $4.25. 448,954 shares of the company were exchanged, compared to its average volume of 2,823,958. MannKind has a 1-year low of $3.17 and a 1-year high of $5.75. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -86.20 and a beta of 1.34. The company has a 50-day moving average of $4.46 and a 200-day moving average of $3.93.

Analyst Ratings Changes

MNKD has been the topic of several research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $6.50 price target on shares of MannKind in a research note on Thursday. Wedbush reiterated an “outperform” rating and set a $10.00 price target on shares of MannKind in a research report on Wednesday, February 28th.

MannKind Company Profile

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.