MannKind Co. (NASDAQ:MNKD) Forecasted to Post Q2 2024 Earnings of $0.00 Per Share

MannKind Co. (NASDAQ:MNKD) – Leerink Partnrs dropped their Q2 2024 earnings estimates for MannKind in a report released on Wednesday, May 8th. Leerink Partnrs analyst T. Smith now expects that the biopharmaceutical company will earn $0.00 per share for the quarter, down from their previous estimate of $0.02. The consensus estimate for MannKind’s current full-year earnings is $0.10 per share. Leerink Partnrs also issued estimates for MannKind’s Q4 2024 earnings at $0.03 EPS, FY2026 earnings at $0.29 EPS, FY2027 earnings at $0.40 EPS and FY2028 earnings at $0.50 EPS.

MNKD has been the subject of several other reports. Wedbush reaffirmed an “outperform” rating and set a $10.00 price objective on shares of MannKind in a research note on Wednesday, February 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.50 price objective on shares of MannKind in a research note on Thursday.

MannKind Trading Down 2.0 %

Shares of NASDAQ:MNKD opened at $4.31 on Friday. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -86.20 and a beta of 1.34. The company has a 50-day moving average price of $4.46 and a 200-day moving average price of $3.93. MannKind has a 12 month low of $3.17 and a 12 month high of $5.75.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $66.26 million for the quarter, compared to the consensus estimate of $60.55 million. The business’s revenue was up 63.1% on a year-over-year basis. During the same period last year, the company posted ($0.04) earnings per share.

Hedge Funds Weigh In On MannKind

A number of institutional investors have recently bought and sold shares of MNKD. TSP Capital Management Group LLC bought a new position in MannKind in the first quarter worth about $3,661,000. Parkman Healthcare Partners LLC grew its holdings in MannKind by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 2,498,624 shares of the biopharmaceutical company’s stock worth $9,095,000 after purchasing an additional 429,677 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in MannKind by 77.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 740,078 shares of the biopharmaceutical company’s stock worth $3,057,000 after purchasing an additional 322,791 shares during the period. Oracle Investment Management Inc. purchased a new stake in MannKind in the third quarter worth about $1,239,000. Finally, 180 Wealth Advisors LLC grew its holdings in MannKind by 12.6% in the first quarter. 180 Wealth Advisors LLC now owns 1,942,210 shares of the biopharmaceutical company’s stock worth $8,798,000 after purchasing an additional 216,880 shares during the period. 49.55% of the stock is owned by institutional investors.

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.