MannKind Corporation (NASDAQ:MNKD – Free Report) – Analysts at HC Wainwright decreased their FY2029 earnings estimates for shares of MannKind in a report issued on Thursday, August 6th. HC Wainwright analyst B. Folkes now expects that the biopharmaceutical company will post earnings per share of $0.27 for the year, down from their previous estimate of $0.39. HC Wainwright currently has a “Buy” rating on the stock. The consensus estimate for MannKind’s current full-year earnings is ($0.08) per share. HC Wainwright also issued estimates for MannKind’s FY2030 earnings at $0.68 EPS.
MNKD has been the subject of a number of other reports. Wall Street Zen cut shares of MannKind from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Zacks Research raised MannKind from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 5th. Mizuho cut their price objective on MannKind from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Royal Bank Of Canada increased their price objective on MannKind from $3.50 to $4.75 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company reduced their price objective on MannKind from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.22.
MannKind Price Performance
NASDAQ MNKD opened at $3.85 on Thursday. The company’s 50 day simple moving average is $3.96 and its 200 day simple moving average is $3.73. MannKind has a 12 month low of $2.23 and a 12 month high of $6.51. The company has a market capitalization of $1.24 billion, a P/E ratio of -29.62 and a beta of 1.12.
Insider Buying and Selling
In other MannKind news, Director Steven B. Binder sold 39,051 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $4.06, for a total value of $158,547.06. Following the completion of the transaction, the director directly owned 785,867 shares in the company, valued at $3,190,620.02. This trade represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company’s stock.
Institutional Investors Weigh In On MannKind
A number of large investors have recently made changes to their positions in MNKD. Bank of New York Mellon Corp purchased a new stake in shares of MannKind in the 2nd quarter valued at approximately $3,827,000. Summit Global Investments purchased a new position in MannKind during the 2nd quarter worth approximately $59,000. Prodigy Asset Management LLC purchased a new position in MannKind during the 2nd quarter worth approximately $85,000. Bank of America Corp DE grew its position in MannKind by 43.2% during the 1st quarter. Bank of America Corp DE now owns 3,383,677 shares of the biopharmaceutical company’s stock worth $8,290,000 after purchasing an additional 1,021,456 shares in the last quarter. Finally, Amundi acquired a new stake in MannKind during the 1st quarter valued at $128,000. 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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).
Featured Articles
- Five stocks we like better than MannKind
- Franco-Nevada Earnings: Gold Is Rallying, But Does the Stock Even Care?
- GE Vernova’s AI Power Boom Faces a Profit Test
- Cardinal Health Earnings: Can Perfection Get Priced In Twice?
- Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand
Receive News & Ratings for MannKind Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MannKind and related companies with MarketBeat.com's FREE daily email newsletter.
