MannKind (NASDAQ:MNKD) Announces Quarterly Earnings Results

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

MannKind Price Performance

Shares of MNKD stock traded down $0.18 during mid-day trading on Wednesday, hitting $5.47. 3,190,766 shares of the stock traded hands, compared to its average volume of 1,913,929. The stock’s fifty day moving average is $6.05 and its two-hundred day moving average is $6.29. MannKind has a 52-week low of $3.57 and a 52-week high of $7.63. The stock has a market cap of $1.51 billion, a P/E ratio of 78.14 and a beta of 1.28.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company started coverage on MannKind in a research report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price objective on the stock. Wedbush assumed coverage on MannKind in a report on Monday, February 10th. They issued an “outperform” rating and a $11.00 price objective for the company. StockNews.com cut shares of MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Finally, Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $7.00 to $10.00 in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, MannKind has an average 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.