Zacks: Brokerages Expect MannKind Co. (MNKD) to Post -$0.08 Earnings Per Share

Equities analysts expect MannKind Co. (NASDAQ:MNKD) to post ($0.08) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for MannKind’s earnings, with the lowest EPS estimate coming in at ($0.13) and the highest estimate coming in at ($0.05). MannKind reported earnings per share of ($0.24) during the same quarter last year, which suggests a positive year-over-year growth rate of 66.7%. The company is scheduled to report its next quarterly earnings report on Wednesday, May 8th.

According to Zacks, analysts expect that MannKind will report full year earnings of ($0.19) per share for the current year, with EPS estimates ranging from ($0.27) to ($0.07). For the next year, analysts anticipate that the company will post earnings of ($0.16) per share, with EPS estimates ranging from ($0.23) to ($0.09). Zacks’ EPS calculations are an average based on a survey of research firms that cover MannKind.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.11. The firm had revenue of $16.03 million for the quarter, compared to analyst estimates of $5.20 million. During the same quarter last year, the company earned ($0.28) earnings per share.

MNKD has been the topic of a number of research reports. Svb Leerink initiated coverage on MannKind in a research note on Monday, March 4th. They set an “outperform” rating and a $3.00 price target on the stock. BidaskClub cut MannKind from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. ValuEngine upgraded MannKind from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Leerink Swann initiated coverage on MannKind in a research note on Friday, February 22nd. They set an “outperform” rating and a $3.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $3.06.

NASDAQ:MNKD traded down $0.01 during trading hours on Tuesday, reaching $1.53. 1,981,004 shares of the stock were exchanged, compared to its average volume of 2,562,736. MannKind has a twelve month low of $0.94 and a twelve month high of $3.04. The stock has a market capitalization of $287.29 million, a price-to-earnings ratio of -2.59 and a beta of 2.69.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of MannKind by 13.9% in the fourth quarter. Geode Capital Management LLC now owns 1,666,104 shares of the biopharmaceutical company’s stock valued at $1,766,000 after acquiring an additional 202,865 shares in the last quarter. Raging Capital Management LLC raised its stake in shares of MannKind by 7,166.3% in the fourth quarter. Raging Capital Management LLC now owns 3,444,971 shares of the biopharmaceutical company’s stock valued at $3,652,000 after acquiring an additional 3,397,561 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of MannKind in the fourth quarter valued at $2,649,000. CVI Holdings LLC acquired a new stake in shares of MannKind in the fourth quarter valued at $11,359,000. Finally, Raymond James & Associates raised its stake in shares of MannKind by 30.1% in the fourth quarter. Raymond James & Associates now owns 336,699 shares of the biopharmaceutical company’s stock valued at $357,000 after acquiring an additional 77,875 shares in the last quarter. Institutional investors and hedge funds own 30.04% of the company’s stock.

About MannKind

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 and Estimates for MannKind (NASDAQ:MNKD)

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