MannKind FY2024 EPS Estimate Boosted by Cantor Fitzgerald

MannKind Co. (NASDAQ:MNKD) – Equities researchers at Cantor Fitzgerald raised their FY2024 EPS estimates for MannKind in a research note issued to investors on Wednesday, February 26th. Cantor Fitzgerald analyst O. Brayer now expects that the biopharmaceutical company will earn $0.10 per share for the year, up from their previous estimate of $0.08. The consensus estimate for MannKind’s current full-year earnings is $0.10 per share. Cantor Fitzgerald also issued estimates for MannKind’s FY2025 earnings at $0.18 EPS.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $76.78 million during the quarter, compared to analysts’ expectations of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%.

MNKD has been the subject of several other reports. Royal Bank of Canada raised shares of MannKind from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $7.00 to $10.00 in a report on Thursday, December 19th. StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a report on Wednesday. Wells Fargo & Company initiated 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. Finally, Wedbush restated an “outperform” rating and issued a $11.00 price target on shares of MannKind in a research note on Thursday. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $9.21.

MannKind Trading Down 4.4 %

Shares of NASDAQ:MNKD opened at $5.23 on Friday. MannKind has a 12-month low of $3.86 and a 12-month high of $7.63. The business has a 50 day moving average of $6.01 and a two-hundred day moving average of $6.27. The company has a market capitalization of $1.44 billion, a PE ratio of 74.71 and a beta of 1.28.

Institutional Investors Weigh In On MannKind

A number of hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its stake in MannKind by 275.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company’s stock valued at $31,427,000 after acquiring an additional 3,587,484 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of MannKind during the 3rd quarter worth approximately $12,252,000. Millennium Management LLC grew its position in shares of MannKind by 108.8% in the fourth quarter. Millennium Management LLC now owns 3,447,392 shares of the biopharmaceutical company’s stock valued at $22,167,000 after purchasing an additional 1,796,442 shares in the last quarter. Graham Capital Management L.P. acquired a new stake in shares of MannKind in the fourth quarter valued at approximately $10,229,000. Finally, Two Sigma Advisers LP lifted its position in MannKind by 60.7% during the third quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company’s stock worth $16,658,000 after buying an additional 1,000,600 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors and hedge funds.

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.