MannKind Co. Expected to Post Q4 2023 Earnings of ($0.01) Per Share (NASDAQ:MNKD)

MannKind Co. (NASDAQ:MNKDFree Report) – Analysts at Leerink Partnrs raised their Q4 2023 EPS estimates for MannKind in a note issued to investors on Monday, February 5th. Leerink Partnrs analyst T. Smith now anticipates that the biopharmaceutical company will post earnings of ($0.01) per share for the quarter, up from their previous estimate of ($0.02). The consensus estimate for MannKind’s current full-year earnings is ($0.05) per share. Leerink Partnrs also issued estimates for MannKind’s FY2028 earnings at $0.45 EPS.

MannKind (NASDAQ:MNKDGet Free Report) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $51.20 million for the quarter, compared to analyst estimates of $50.73 million. The company’s revenue for the quarter was up 56.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share.

Separately, HC Wainwright restated a “buy” rating and set a $7.50 target price on shares of MannKind in a research report on Thursday, January 4th.

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MannKind Price Performance

NASDAQ MNKD opened at $3.51 on Thursday. The company has a market capitalization of $946.23 million, a PE ratio of -29.25 and a beta of 1.28. The company has a fifty day moving average of $3.56 and a 200 day moving average of $4.01. MannKind has a 1 year low of $3.17 and a 1 year high of $5.75.

Insider Buying and Selling at MannKind

In other MannKind news, CEO Michael Castagna sold 110,000 shares of MannKind stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $4.00, for a total value of $440,000.00. Following the completion of the transaction, the chief executive officer now owns 2,239,147 shares of the company’s stock, valued at $8,956,588. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of MannKind by 66.6% during the third quarter. State Street Corp now owns 20,832,244 shares of the biopharmaceutical company’s stock worth $64,372,000 after purchasing an additional 8,331,058 shares in the last quarter. Millennium Management LLC increased its stake in shares of MannKind by 144.6% during the fourth quarter. Millennium Management LLC now owns 6,249,939 shares of the biopharmaceutical company’s stock worth $32,937,000 after purchasing an additional 3,695,224 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of MannKind by 786.7% during the first quarter. Two Sigma Advisers LP now owns 2,048,427 shares of the biopharmaceutical company’s stock worth $8,399,000 after purchasing an additional 1,817,400 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of MannKind by 106.6% during the first quarter. Two Sigma Investments LP now owns 3,071,455 shares of the biopharmaceutical company’s stock worth $12,593,000 after purchasing an additional 1,584,567 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of MannKind by 108.3% during the first quarter. Bank of America Corp DE now owns 2,838,103 shares of the biopharmaceutical company’s stock worth $11,636,000 after purchasing an additional 1,475,480 shares in the last quarter. Hedge funds and other institutional investors own 49.95% of the company’s stock.

MannKind Company Profile

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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.

Further Reading

Earnings History and Estimates for MannKind (NASDAQ:MNKD)

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