MannKind (MNKD) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

MannKind (NASDAQ:MNKD) released its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.04, Bloomberg Earnings reports. The firm had revenue of $3.89 million for the quarter, compared to the consensus estimate of $4.80 million.

Shares of NASDAQ MNKD traded down $0.01 during mid-day trading on Friday, hitting $1.10. The company had a trading volume of 838,100 shares, compared to its average volume of 2,748,684. The stock has a market capitalization of $169.82 million, a price-to-earnings ratio of -0.95 and a beta of 2.60. The company has a debt-to-equity ratio of -0.44, a current ratio of 0.48 and a quick ratio of 0.43. MannKind has a one year low of $0.98 and a one year high of $6.96.

An institutional investor recently raised its position in MannKind stock. Bank of New York Mellon Corp grew its stake in MannKind Co. (NASDAQ:MNKD) by 380.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,375 shares of the biopharmaceutical company’s stock after acquiring an additional 307,475 shares during the period. Bank of New York Mellon Corp owned 0.25% of MannKind worth $738,000 at the end of the most recent quarter. Institutional investors and hedge funds own 25.44% of the company’s stock.

A number of equities analysts have issued reports on MNKD shares. HC Wainwright set a $5.00 target price on MannKind and gave the stock a “buy” rating in a report on Thursday, May 10th. BidaskClub upgraded MannKind from a “sell” rating to a “hold” rating in a report on Friday, June 1st. ValuEngine upgraded MannKind from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Zacks Investment Research upgraded MannKind from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a report on Wednesday, May 16th. Finally, Maxim Group restated a “sell” rating on shares of MannKind in a report on Friday, June 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $2.51.

MannKind Company Profile

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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Earnings History for MannKind (NASDAQ:MNKD)

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