Cantor Fitzgerald Forecasts Higher Earnings for MannKind

MannKind Co. (NASDAQ:MNKD) – Cantor Fitzgerald raised their FY2024 earnings per share estimates for MannKind in a research report issued on Wednesday, February 26th. Cantor Fitzgerald analyst O. Brayer now forecasts that the biopharmaceutical company will post earnings of $0.10 per share for the year, up from their previous estimate of $0.08. The consensus estimate for MannKind’s current full-year earnings is $0.10 per share. Cantor Fitzgerald also issued estimates for MannKind’s FY2025 earnings at $0.18 EPS.

A number of other brokerages also recently issued reports on MNKD. Wedbush restated an “outperform” rating and set a $11.00 price objective on shares of MannKind in a research report on Thursday. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $7.00 to $10.00 in a report on Thursday, December 19th. StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company initiated coverage on MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target on the stock. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $9.21.

MannKind Trading Up 2.1 %

NASDAQ:MNKD opened at $5.34 on Friday. The company has a market capitalization of $1.47 billion, a P/E ratio of 76.29 and a beta of 1.28. MannKind has a 12 month low of $3.97 and a 12 month high of $7.63. The business’s 50-day moving average is $6.01 and its 200 day moving average is $6.27.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $76.78 million during the quarter, compared to analyst estimates of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in MannKind by 22.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 1,816 shares in the last quarter. E Fund Management Co. Ltd. boosted its position in MannKind by 9.0% during the 4th quarter. E Fund Management Co. Ltd. now owns 22,039 shares of the biopharmaceutical company’s stock valued at $142,000 after acquiring an additional 1,828 shares in the last quarter. Xponance Inc. boosted its position in MannKind by 10.6% during the 4th quarter. Xponance Inc. now owns 19,067 shares of the biopharmaceutical company’s stock valued at $123,000 after acquiring an additional 1,828 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in MannKind by 10.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company’s stock valued at $181,000 after acquiring an additional 2,657 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in MannKind by 14.8% during the 3rd quarter. National Bank of Canada FI now owns 21,553 shares of the biopharmaceutical company’s stock valued at $136,000 after acquiring an additional 2,783 shares in the last quarter. Institutional investors own 49.55% of the company’s stock.

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.