Leerink Partnrs Reduces Earnings Estimates for MannKind

MannKind Corporation (NASDAQ:MNKD - Free Report) - Analysts at Leerink Partnrs cut their FY2026 earnings per share estimates for MannKind in a research note issued on Wednesday, June 18th. Leerink Partnrs analyst F. Khurshid now expects that the biopharmaceutical company will post earnings per share of $0.14 for the year, down from their prior estimate of $0.16. The consensus estimate for MannKind's current full-year earnings is $0.10 per share.

Several other research firms have also issued reports on MNKD. Mizuho initiated coverage on shares of MannKind in a research note on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and issued a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th. Finally, Wall Street Zen raised shares of MannKind from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $10.33.

MannKind Price Performance

Shares of MNKD stock traded down $0.04 on Thursday, hitting $3.77. The company's stock had a trading volume of 6,160,962 shares, compared to its average volume of 2,389,841. MannKind has a fifty-two week low of $3.63 and a fifty-two week high of $7.63. The firm's fifty day moving average price is $4.40 and its 200-day moving average price is $5.26. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 37.70 and a beta of 1.02.

MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. MannKind had a negative return on equity of 32.41% and a net margin of 10.12%. The firm had revenue of $78.35 million during the quarter, compared to analysts' expectations of $75.86 million. During the same quarter last year, the firm earned $0.05 earnings per share. The business's revenue for the quarter was up 18.1% on a year-over-year basis.

Hedge Funds Weigh In On MannKind

Several large investors have recently added to or reduced their stakes in MNKD. Principal Financial Group Inc. raised its holdings in MannKind by 9.5% in the 4th quarter. Principal Financial Group Inc. now owns 184,575 shares of the biopharmaceutical company's stock valued at $1,187,000 after acquiring an additional 16,057 shares in the last quarter. Beirne Wealth Consulting Services LLC acquired a new position in MannKind in the 4th quarter valued at approximately $66,000. Marshall Investment Management LLC acquired a new position in MannKind in the 4th quarter valued at approximately $69,000. Bank of New York Mellon Corp raised its holdings in MannKind by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 789,760 shares of the biopharmaceutical company's stock valued at $5,078,000 after acquiring an additional 51,598 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in MannKind in the 4th quarter valued at approximately $86,000. Institutional investors and hedge funds own 49.55% of the company's stock.

Insider Activity at MannKind

In other MannKind news, EVP David Thomson sold 32,179 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 772,427 shares of the company's stock, valued at $3,614,958.36. This represents a 4.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven B. Binder sold 12,078 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $4.40, for a total transaction of $53,143.20. Following the transaction, the director now owns 989,343 shares in the company, valued at approximately $4,353,109.20. The trade was a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 190,831 shares of company stock worth $846,298 in the last 90 days. 2.70% of the stock is owned by company 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.