FY2028 EPS Estimates for MannKind Increased by HC Wainwright

Key Points

• HC Wainwright has increased its FY2028 earnings per share estimate for MannKind Corporation to $0.38, up from $0.37, maintaining a "Buy" rating and a $11.00 price target.
• Other analysts also revised their price targets, including Wells Fargo raising theirs to $10.00 and Royal Bank of Canada to $8.00, while some have downgraded their ratings, including Wall Street Zen to a "hold."
• MannKind's stock has seen a 4.0% decline recently, with shares opening at $5.51, despite reporting a 5.7% year-over-year revenue increase in its latest earnings report.

MannKind Corporation (NASDAQ:MNKD - Free Report) - Analysts at HC Wainwright lifted their FY2028 earnings per share estimates for shares of MannKind in a research report issued on Tuesday, September 2nd. HC Wainwright analyst B. Folkes now anticipates that the biopharmaceutical company will post earnings per share of $0.38 for the year, up from their previous forecast of $0.37. HC Wainwright has a "Buy" rating and a $11.00 price target on the stock. The consensus estimate for MannKind's current full-year earnings is $0.10 per share. HC Wainwright also issued estimates for MannKind's FY2029 earnings at $0.65 EPS.

A number of other brokerages have also recently issued reports on MNKD. Wells Fargo & Company lifted their target price on MannKind from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Wednesday. Royal Bank Of Canada lifted their target price on MannKind from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Oppenheimer lifted their target price on MannKind from $12.00 to $15.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Wall Street Zen cut MannKind from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat.com, MannKind presently has a consensus rating of "Buy" and a consensus price target of $10.71.

MannKind Trading Up 3.7%

Shares of NASDAQ MNKD traded up $0.20 during mid-day trading on Thursday, reaching $5.54. The company had a trading volume of 6,758,364 shares, compared to its average volume of 5,085,501. The stock has a market cap of $1.70 billion, a PE ratio of 50.37 and a beta of 1.02. The company has a 50-day moving average price of $4.00 and a two-hundred day moving average price of $4.43. MannKind has a 1-year low of $3.38 and a 1-year high of $7.63.

MannKind (NASDAQ:MNKD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, beating 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 negative return on equity of 32.60% and a net margin of 10.87%.The firm'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 EPS.

Insider Transactions at MannKind

In related news, Director Steven B. Binder sold 75,367 shares of MannKind stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $3.94, for a total transaction of $296,945.98. Following the completion of the sale, the director owned 830,508 shares of the company's stock, valued at approximately $3,272,201.52. This trade represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On MannKind

A number of institutional investors have recently made changes to their positions in the business. Nuveen LLC bought a new position in MannKind during the first quarter valued at about $17,011,000. Millennium Management LLC lifted its holdings in MannKind by 68.9% during the 1st quarter. Millennium Management LLC now owns 5,822,590 shares of the biopharmaceutical company's stock worth $29,288,000 after buying an additional 2,375,198 shares in the last quarter. Graham Capital Management L.P. acquired a new position in MannKind during the 4th quarter worth $10,229,000. Vanguard Group Inc. lifted its holdings in MannKind by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 17,322,179 shares of the biopharmaceutical company's stock worth $87,131,000 after buying an additional 1,263,622 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in MannKind by 40.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,958,219 shares of the biopharmaceutical company's stock worth $19,022,000 after buying an additional 855,261 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors.

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.