MannKind Co. (NASDAQ:MNKD) – Analysts at Cantor Fitzgerald raised their FY2019 earnings estimates for shares of MannKind in a research report issued to clients and investors on Thursday, November 7th. Cantor Fitzgerald analyst B. Folkes now forecasts that the biopharmaceutical company will post earnings of ($0.27) per share for the year, up from their previous estimate of ($0.28). Cantor Fitzgerald currently has a “Overweight” rating and a $3.00 target price on the stock.
Other equities research analysts also recently issued research reports about the company. HC Wainwright reaffirmed a “buy” rating and set a $2.50 price target on shares of MannKind in a report on Thursday, November 7th. ValuEngine raised MannKind from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, BidaskClub raised MannKind from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. MannKind has a consensus rating of “Buy” and an average price target of $2.90.
Shares of MannKind stock opened at $1.22 on Monday. The business has a fifty day simple moving average of $1.30 and a two-hundred day simple moving average of $1.22. MannKind has a 1 year low of $0.94 and a 1 year high of $2.34. The company has a market capitalization of $238.92 million, a price-to-earnings ratio of -2.07 and a beta of 2.36.
MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $14.60 million during the quarter, compared to analyst estimates of $15.03 million. During the same period in the previous year, the company posted ($0.16) EPS.
A number of institutional investors have recently made changes to their positions in MNKD. Cubist Systematic Strategies LLC acquired a new stake in MannKind during the 2nd quarter valued at $33,000. LPL Financial LLC increased its position in MannKind by 86.8% during the 2nd quarter. LPL Financial LLC now owns 33,927 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 15,765 shares during the period. JPMorgan Chase & Co. increased its position in MannKind by 28.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 53,503 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 11,813 shares during the period. Integrated Wealth Concepts LLC bought a new position in MannKind during the 2nd quarter worth $68,000. Finally, Commonwealth Equity Services LLC increased its position in MannKind by 32.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 60,238 shares of the biopharmaceutical company’s stock worth $69,000 after buying an additional 14,590 shares during the period. 26.54% of the stock is owned by institutional investors and hedge funds.
MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.
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