Leerink Partnrs Reduces Earnings Estimates for MannKind

MannKind Co. (NASDAQ:MNKD) – Investment analysts at Leerink Partnrs decreased their FY2025 earnings per share estimates for MannKind in a research report issued on Wednesday, December 18th. Leerink Partnrs analyst F. Khurshid now expects that the biopharmaceutical company will post earnings per share of $0.16 for the year, down from their prior estimate of $0.18. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for MannKind’s current full-year earnings is $0.10 per share.

Other analysts have also issued reports about the stock. Wells Fargo & Company started coverage on shares of MannKind in a research note on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target for the company. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. Oppenheimer lifted their price target on MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. StockNews.com lowered MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Finally, Leerink Partners began coverage on MannKind in a report on Monday, September 9th. They set an “outperform” rating and a $8.00 target price on the stock. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $8.88.

MannKind Stock Down 4.0 %

Shares of MNKD opened at $6.74 on Monday. The firm has a market capitalization of $1.86 billion, a PE ratio of 96.29 and a beta of 1.28. The firm has a 50-day moving average price of $6.77 and a 200 day moving average price of $6.07. MannKind has a 52-week low of $3.17 and a 52-week high of $7.63.

Insiders Place Their Bets

In other news, insider Stuart A. Tross sold 55,000 shares of MannKind stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total value of $403,700.00. Following the transaction, the insider now owns 967,191 shares of the company’s stock, valued at $7,099,181.94. This trade represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven B. Binder sold 67,539 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $6.76, for a total transaction of $456,563.64. Following the completion of the transaction, the director now owns 1,075,026 shares in the company, valued at $7,267,175.76. The trade was a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 190,075 shares of company stock valued at $1,325,587 in the last three months. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC increased its stake in shares of MannKind by 189.8% in the second quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock worth $24,766,000 after purchasing an additional 3,107,598 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in MannKind in the 3rd quarter valued at approximately $12,252,000. Two Sigma Advisers LP increased its position in MannKind by 60.7% in the 3rd 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 during the period. Parkman Healthcare Partners LLC lifted its holdings in shares of MannKind by 37.1% during the third quarter. Parkman Healthcare Partners LLC now owns 3,304,085 shares of the biopharmaceutical company’s stock worth $20,783,000 after buying an additional 894,486 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of MannKind by 421.3% in the third quarter. BNP Paribas Financial Markets now owns 471,802 shares of the biopharmaceutical company’s stock valued at $2,968,000 after acquiring an additional 381,298 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.

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.