Cantor Fitzgerald Raises Earnings Estimates for MannKind

MannKind Co. (NASDAQ:MNKD) – Equities researchers at Cantor Fitzgerald boosted their FY2024 earnings per share estimates for MannKind in a research note issued to investors on Wednesday, February 26th. Cantor Fitzgerald analyst O. Brayer now anticipates that the biopharmaceutical company will post earnings per share of $0.10 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.

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

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

MannKind Stock Performance

NASDAQ MNKD opened at $5.23 on Friday. The company has a market cap of $1.44 billion, a PE ratio of 74.71 and a beta of 1.28. MannKind has a 52-week low of $3.86 and a 52-week high of $7.63. The firm’s 50 day moving average price is $6.01 and its 200-day moving average price is $6.27.

Institutional Investors Weigh In On MannKind

A number of large investors have recently modified their holdings of MNKD. GF Fund Management CO. LTD. purchased a new position in shares of MannKind in the 4th quarter valued at approximately $37,000. Jones Financial Companies Lllp increased its stake in MannKind by 3,294.8% during the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 6,392 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 buying an additional 1,816 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of MannKind during the fourth quarter worth $65,000. Finally, Beirne Wealth Consulting Services LLC purchased a new stake in shares of MannKind during the fourth quarter valued at $66,000. Hedge funds and other 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.