Cantor Fitzgerald Decreases Earnings Estimates for MannKind

Key Points

• Investment analysts at Cantor Fitzgerald have revised down their FY2025 earnings estimates for MannKind, lowering their forecast from $0.23 to $0.13 per share.
• MannKind reported $76.53 million in revenue for the last quarter, slightly below analysts' expectations, while earnings of $0.05 per share exceeded the consensus estimate of $0.04.
• In recent changes, Royal Bank of Canada lowered its price target for MannKind from $8.00 to $7.00, while HC Wainwright upgraded the company to a "buy" rating with a price objective of $9.00.

MannKind Corporation (NASDAQ:MNKD - Free Report) - Investment analysts at Cantor Fitzgerald dropped their FY2025 earnings estimates for shares of MannKind in a report released on Thursday, August 7th. Cantor Fitzgerald analyst O. Brayer now expects that the biopharmaceutical company will post earnings of $0.13 per share for the year, down from their previous forecast of $0.23. The consensus estimate for MannKind's current full-year earnings is $0.10 per share.

MannKind (NASDAQ:MNKD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $76.53 million for the quarter, compared to analysts' expectations of $77.82 million. MannKind had a net margin of 10.87% and a negative return on equity of 32.60%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $0.05 earnings per share.

Several other research firms have also recently weighed in on MNKD. Royal Bank Of Canada cut their price objective on shares of MannKind from $8.00 to $7.00 and set an "outperform" rating for the company in a research report on Thursday. Wall Street Zen cut shares of MannKind from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, HC Wainwright upgraded shares of MannKind to a "buy" rating and set a $9.00 price objective for the company in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $9.71.

MannKind Stock Performance

NASDAQ:MNKD opened at $3.52 on Monday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 32.00 and a beta of 1.02. MannKind has a fifty-two week low of $3.40 and a fifty-two week high of $7.63. The stock has a fifty day moving average price of $3.87 and a 200-day moving average price of $4.62.

Hedge Funds Weigh In On MannKind

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its holdings in shares of MannKind by 61.9% during the fourth quarter. LPL Financial LLC now owns 45,630 shares of the biopharmaceutical company's stock worth $293,000 after purchasing an additional 17,452 shares during the period. Geode Capital Management LLC grew its position in shares of MannKind by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 6,374,274 shares of the biopharmaceutical company's stock valued at $40,996,000 after buying an additional 35,346 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of MannKind by 50.7% in the fourth quarter. Renaissance Technologies LLC now owns 981,645 shares of the biopharmaceutical company's stock valued at $6,312,000 after buying an additional 330,100 shares during the period. Raymond James Financial Inc. bought a new position in shares of MannKind during the fourth quarter worth about $4,209,000. Finally, Summit Investment Advisors Inc. lifted its stake in shares of MannKind by 10.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company's stock worth $181,000 after acquiring an additional 2,657 shares during the period. 49.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Steven B. Binder sold 80,144 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $4.69, for a total transaction of $375,875.36. Following the sale, the director owned 1,006,611 shares in the company, valued at $4,721,005.59. The trade was a 7.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David Thomson sold 32,179 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $4.68, for a total value of $150,597.72. Following the completion of the transaction, the executive vice president owned 772,427 shares of the company's stock, valued at $3,614,958.36. This represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 266,198 shares of company stock valued at $1,143,244 over the last quarter. 3.00% of the stock is owned by corporate insiders.

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.

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