Cantor Fitzgerald Forecasts Higher Earnings for MannKind

MannKind Co. (NASDAQ:MNKD) – Equities researchers at Cantor Fitzgerald lifted their FY2024 earnings per share estimates for shares of MannKind in a note issued to investors on Wednesday, February 26th. Cantor Fitzgerald analyst O. Brayer now expects that the biopharmaceutical company will post earnings per share of $0.10 for the year, up from their previous forecast of $0.08. The consensus estimate for MannKind’s current full-year earnings is $0.10 per share. Cantor Fitzgerald also issued estimates for MannKind’s FY2025 earnings at $0.18 EPS.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%.

MNKD has been the topic of a number of other reports. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $11.00 price objective on shares of MannKind in a research report on Thursday. Finally, Wells Fargo & Company started coverage on MannKind in a research report on Friday, December 20th. They set an “overweight” rating and a $9.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $9.21.

MannKind Stock Performance

Shares of MNKD stock opened at $5.34 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of 76.29 and a beta of 1.28. MannKind has a fifty-two week low of $3.97 and a fifty-two week high of $7.63. The business’s 50 day moving average price is $6.01 and its 200-day moving average price is $6.27.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MNKD. Private Advisor Group LLC raised its stake in MannKind by 45.7% during the third quarter. Private Advisor Group LLC now owns 30,585 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 9,588 shares during the last quarter. International Assets Investment Management LLC raised its stake in MannKind by 511.6% during the third quarter. International Assets Investment Management LLC now owns 88,689 shares of the biopharmaceutical company’s stock valued at $558,000 after buying an additional 74,189 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in MannKind by 22.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 1,816 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in MannKind by 65.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 52,890 shares of the biopharmaceutical company’s stock valued at $333,000 after buying an additional 20,896 shares during the last quarter. Finally, US Bancorp DE purchased a new position in MannKind during the third quarter valued at $407,000. Hedge funds and other institutional investors own 49.55% 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. 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.