MannKind FY2029 EPS Estimate Decreased by HC Wainwright

Key Points

• HC Wainwright cut MannKind’s FY2029 EPS forecast to $0.27 from $0.39, while maintaining a “Buy” rating; it projects FY2030 EPS of $0.68.
• Analyst sentiment remains mixed but leans positive, with seven Buy, two Hold, and one Sell ratings. The consensus rating is “Moderate Buy,” with an average price target of $9.22.
• MannKind shares opened at $3.85, compared with a 52-week range of $2.23 to $6.51; institutional investors and hedge funds own approximately 49.55% of the stock.

MannKind Corporation (NASDAQ:MNKD - Free Report) - HC Wainwright cut their FY2029 EPS estimates for MannKind in a research note issued to investors on Thursday, August 6th. HC Wainwright analyst B. Folkes now expects that the biopharmaceutical company will post earnings of $0.27 per share for the year, down from their previous forecast of $0.39. HC Wainwright has a "Buy" rating on the stock. The consensus estimate for MannKind's current full-year earnings is ($0.08) per share. HC Wainwright also issued estimates for MannKind's FY2030 earnings at $0.68 EPS.

Several other equities research analysts have also weighed in on the stock. Wall Street Zen lowered shares of MannKind from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Wells Fargo & Company decreased their target price on MannKind from $14.00 to $13.00 and set an "overweight" rating for the company in a research note on Thursday, August 6th. Zacks Research raised MannKind from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 5th. Royal Bank Of Canada increased their price target on MannKind from $3.50 to $4.75 and gave the stock a "sector perform" rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of MannKind in a report on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $9.22.

MannKind Stock Performance

MannKind stock opened at $3.85 on Thursday. MannKind has a 1 year low of $2.23 and a 1 year high of $6.51. The firm's 50-day moving average is $3.96 and its 200-day moving average is $3.73. The company has a market cap of $1.24 billion, a P/E ratio of -29.62 and a beta of 1.12.

Institutional Trading of MannKind

A number of institutional investors have recently made changes to their positions in MNKD. Caitong International Asset Management Co. Ltd raised its holdings in MannKind by 108.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 2,927 shares in the last quarter. International Assets Investment Management LLC bought a new position in MannKind during the 4th quarter valued at $45,000. Huntington National Bank increased its position in shares of MannKind by 420.0% during the 4th quarter. Huntington National Bank now owns 10,400 shares of the biopharmaceutical company's stock valued at $59,000 after purchasing an additional 8,400 shares during the period. Laurel Wealth Advisors LLC acquired a new position in shares of MannKind during the 4th quarter valued at $60,000. Finally, Lido Advisors LLC bought a new stake in shares of MannKind in the 4th quarter worth $63,000. 49.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Steven B. Binder sold 39,051 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $4.06, for a total value of $158,547.06. Following the completion of the transaction, the director owned 785,867 shares in the company, valued at $3,190,620.02. This represents a 4.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.60% 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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).

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