MannKind (NASDAQ:MNKD) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

MannKind (NASDAQ:MNKD) issued its earnings results on Wednesday. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02, Briefing.com reports. The business had revenue of $66.26 million for the quarter, compared to analysts’ expectations of $60.55 million. During the same period last year, the business earned ($0.04) EPS. The company’s revenue for the quarter was up 63.1% on a year-over-year basis.

MannKind Stock Down 2.0 %

Shares of NASDAQ MNKD traded down $0.09 during mid-day trading on Thursday, hitting $4.31. 492,874 shares of the company were exchanged, compared to its average volume of 2,827,892. MannKind has a 1-year low of $3.17 and a 1-year high of $5.75. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -88.60 and a beta of 1.34. The stock has a 50 day simple moving average of $4.46 and a 200-day simple moving average of $3.93.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MNKD. Cantor Fitzgerald reissued an “overweight” rating and set a $6.50 target price on shares of MannKind in a report on Friday, March 15th. Wedbush reaffirmed an “outperform” rating and issued a $10.00 target price on shares of MannKind in a research report on Wednesday, February 28th.

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.