MannKind (NASDAQ:MNKD) Issues Earnings Results

MannKind (NASDAQ:MNKD) posted its quarterly earnings results on Wednesday. The biopharmaceutical company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02, Briefing.com reports. The business had revenue of $66.26 million for the quarter, compared to analyst estimates of $60.55 million. The business’s revenue was up 63.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share.

MannKind Stock Down 1.6 %

Shares of MannKind stock traded down $0.07 during trading on Wednesday, reaching $4.40. The company’s stock had a trading volume of 1,963,506 shares, compared to its average volume of 2,856,575. The business has a 50 day moving average price of $4.45 and a 200-day moving average price of $3.92. The company has a market capitalization of $1.19 billion, a P/E ratio of -88.00 and a beta of 1.34. MannKind has a 12-month low of $3.17 and a 12-month high of $5.75.

Wall Street Analysts Forecast Growth

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

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.