MannKind (NASDAQ:MNKD) Announces Earnings Results

MannKind (NASDAQ:MNKD) released its quarterly earnings data on Wednesday. The biopharmaceutical company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03, Zacks reports. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%.

MannKind Stock Down 3.2 %

NASDAQ MNKD traded down $0.18 during trading hours on Wednesday, reaching $5.47. The company’s stock had a trading volume of 3,190,766 shares, compared to its average volume of 1,913,929. The firm’s 50-day moving average price is $6.05 and its 200-day moving average price is $6.29. MannKind has a 1 year low of $3.57 and a 1 year high of $7.63. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 78.14 and a beta of 1.28.

Wall Street Analysts Forecast Growth

MNKD has been the subject of several recent research reports. StockNews.com lowered MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Wells Fargo & Company assumed coverage on shares of MannKind in a research note on Friday, December 20th. They set an “overweight” rating and a $9.00 target price on the stock. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $7.00 to $10.00 in a research note on Thursday, December 19th. Finally, Wedbush assumed coverage on MannKind in a research report on Monday, February 10th. They issued an “outperform” rating and a $11.00 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, MannKind currently has a consensus rating of “Buy” and a consensus target price of $9.21.

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.