Cantor Fitzgerald Expects Weaker Earnings 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) - Stock analysts at Cantor Fitzgerald lowered their FY2025 earnings per share estimates for MannKind in a research note issued to investors on Thursday, August 7th. Cantor Fitzgerald analyst O. Brayer now expects that the biopharmaceutical company will post earnings per share of $0.13 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.

Other research analysts have also issued reports about the company. Wall Street Zen lowered MannKind from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada decreased their price target on MannKind from $8.00 to $7.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Finally, HC Wainwright upgraded MannKind to a "buy" rating and set a $9.00 price target for the company in a research note on Wednesday, July 16th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $9.71.

MannKind Trading Down 2.5%

NASDAQ:MNKD traded down $0.10 during mid-day trading on Monday, hitting $3.64. The company had a trading volume of 861,414 shares, compared to its average volume of 2,370,100. The business has a fifty day simple moving average of $3.82 and a 200-day simple moving average of $4.58. MannKind has a 1 year low of $3.38 and a 1 year high of $7.63. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 33.05 and a beta of 1.02.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MNKD. LPL Financial LLC increased its holdings in shares of MannKind by 61.9% in the fourth quarter. LPL Financial LLC now owns 45,630 shares of the biopharmaceutical company's stock valued at $293,000 after buying an additional 17,452 shares in the last quarter. Geode Capital Management LLC raised its stake in MannKind by 0.6% during 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 purchasing an additional 35,346 shares during the period. Renaissance Technologies LLC raised its stake in MannKind by 50.7% during the 4th quarter. Renaissance Technologies LLC now owns 981,645 shares of the biopharmaceutical company's stock valued at $6,312,000 after purchasing an additional 330,100 shares during the period. Raymond James Financial Inc. acquired a new stake in MannKind during the 4th quarter valued at $4,209,000. Finally, Summit Investment Advisors Inc. raised its stake in MannKind by 10.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company's stock valued at $181,000 after purchasing an additional 2,657 shares during the period. Institutional investors own 49.55% of the company's stock.

Insider Buying and Selling

In other MannKind news, Director Steven B. Binder sold 75,367 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $3.94, for a total value of $296,945.98. Following the transaction, the director owned 830,508 shares of the company's stock, valued at approximately $3,272,201.52. This represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 153,875 shares of company stock worth $616,771 over the last quarter. 2.70% of the stock is owned by insiders.

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.