MannKind (MNKD) to Release Quarterly Earnings on Thursday

MannKind (NASDAQ:MNKD) is set to announce its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.04 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $72.39 million during the quarter, compared to analysts’ expectations of $64.81 million. MannKind had a negative return on equity of 11.97% and a net margin of 4.73%. The company’s revenue was up 48.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) EPS. On average, analysts expect MannKind to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

MannKind Price Performance

Shares of MNKD stock opened at $7.26 on Wednesday. The company has a 50-day moving average of $6.47 and a two-hundred day moving average of $5.51. The firm has a market cap of $2.00 billion, a PE ratio of 181.50 and a beta of 1.30. MannKind has a 1-year low of $3.17 and a 1-year high of $7.32.

Insiders Place Their Bets

In other news, insider Stuart A. Tross sold 25,000 shares of MannKind stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $6.26, for a total transaction of $156,500.00. Following the completion of the sale, the insider now directly owns 1,022,191 shares of the company’s stock, valued at approximately $6,398,915.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Steven B. Binder sold 5,055 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $5.94, for a total transaction of $30,026.70. Following the transaction, the executive vice president now directly owns 1,075,026 shares in the company, valued at approximately $6,385,654.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stuart A. Tross sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $6.26, for a total transaction of $156,500.00. Following the transaction, the insider now directly owns 1,022,191 shares in the company, valued at $6,398,915.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,161 shares of company stock worth $1,229,095 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MNKD. Leerink Partners assumed coverage on MannKind in a report on Monday, September 9th. They set an “outperform” rating and a $8.00 target price for the company. Oppenheimer upped their target price on shares of MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Finally, Leerink Partnrs upgraded shares of MannKind to a “strong-buy” rating in a research note on Monday, September 9th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $8.67.

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.