Zacks: Brokerages Anticipate MannKind Co. (NASDAQ:MNKD) Will Post Quarterly Sales of $16.33 Million

Wall Street analysts expect MannKind Co. (NASDAQ:MNKDGet Rating) to post $16.33 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for MannKind’s earnings, with the highest sales estimate coming in at $16.60 million and the lowest estimate coming in at $16.00 million. MannKind posted sales of $23.28 million in the same quarter last year, which suggests a negative year over year growth rate of 29.9%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that MannKind will report full-year sales of $80.67 million for the current financial year, with estimates ranging from $75.60 million to $85.40 million. For the next year, analysts anticipate that the company will post sales of $155.20 million, with estimates ranging from $128.10 million to $192.61 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover MannKind.

MannKind (NASDAQ:MNKDGet Rating) last posted its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). The business had revenue of $11.99 million during the quarter, compared to the consensus estimate of $10.44 million. During the same period in the previous year, the business earned ($0.05) earnings per share.

A number of equities research analysts have recently issued reports on MNKD shares. Zacks Investment Research raised shares of MannKind from a “sell” rating to a “hold” rating in a research report on Saturday, May 7th. HC Wainwright decreased their price target on shares of MannKind from $6.50 to $6.00 and set a “buy” rating on the stock in a research note on Monday, February 28th. Finally, StockNews.com upgraded shares of MannKind to a “sell” rating in a research report on Saturday, April 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.00.

Shares of MNKD opened at $4.46 on Friday. The company has a market capitalization of $1.13 billion, a P/E ratio of -12.05 and a beta of 1.93. The firm has a 50 day moving average of $3.65 and a 200 day moving average of $3.81. MannKind has a twelve month low of $2.49 and a twelve month high of $5.53.

A number of large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC increased its position in MannKind by 20.5% during the fourth quarter. Integrated Wealth Concepts LLC now owns 14,705 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 2,500 shares during the last quarter. 1492 Capital Management LLC lifted its stake in MannKind by 0.6% in the fourth quarter. 1492 Capital Management LLC now owns 533,828 shares of the biopharmaceutical company’s stock worth $2,333,000 after acquiring an additional 3,232 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of MannKind by 5.1% during the 4th quarter. ProShare Advisors LLC now owns 89,325 shares of the biopharmaceutical company’s stock worth $391,000 after buying an additional 4,347 shares during the last quarter. US Bancorp DE lifted its position in shares of MannKind by 53.2% during the 1st quarter. US Bancorp DE now owns 14,257 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 4,952 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of MannKind by 18.3% in the 1st quarter. HighTower Advisors LLC now owns 32,267 shares of the biopharmaceutical company’s stock valued at $116,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 43.57% of the company’s stock.

MannKind Company Profile (Get Rating)

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. It also promotes Thyquidity to adult and pediatric endocrinologists, and other healthcare providers for the treatment of hypothyroidism.

Read More

Get a free copy of the Zacks research report on MannKind (MNKD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for MannKind (NASDAQ:MNKD)

Want More Great Investing Ideas?

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.