MannKind (NASDAQ:MNKD) Releases Quarterly Earnings Results, Hits Expectations

MannKind (NASDAQ:MNKD) released its earnings results on Wednesday. The biopharmaceutical company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03, Zacks reports. The firm had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%.

MannKind Stock Performance

MannKind stock opened at $5.26 on Thursday. The firm has a 50 day moving average price of $6.04 and a two-hundred day moving average price of $6.28. MannKind has a 52-week low of $3.86 and a 52-week high of $7.63. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 76.67 and a beta of 1.28.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wedbush started coverage on MannKind in a report on Monday, February 10th. They issued an “outperform” rating and a $11.00 target price on the stock. Royal Bank of Canada raised shares of MannKind from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $7.00 to $10.00 in a research note on Thursday, December 19th. Wells Fargo & Company began coverage on MannKind in a research note on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target for the company. Finally, StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $9.21.

About MannKind

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.