MannKind Co. (NASDAQ:MNKD) to Post FY2024 Earnings of $0.05 Per Share, SVB Leerink Forecasts

MannKind Co. (NASDAQ:MNKD) – Stock analysts at SVB Leerink decreased their FY2024 earnings per share estimates for MannKind in a research note issued on Wednesday, May 12th. SVB Leerink analyst T. Smith now expects that the biopharmaceutical company will post earnings of $0.05 per share for the year, down from their prior estimate of $0.08. SVB Leerink currently has a “Outperform” rating and a $5.00 target price on the stock. SVB Leerink also issued estimates for MannKind’s FY2025 earnings at $0.19 EPS.

Several other research analysts also recently weighed in on the company. Royal Bank of Canada initiated coverage on MannKind in a research note on Thursday. They set a “sector perform” rating and a $5.00 target price for the company. Zacks Investment Research downgraded MannKind from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 6th. HC Wainwright increased their price objective on MannKind from $2.50 to $6.50 in a research note on Friday, February 26th. Oppenheimer reissued a “buy” rating and issued a $7.00 price objective on shares of MannKind in a research note on Wednesday, February 17th. Finally, BTIG Research increased their price objective on MannKind from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, February 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. MannKind has a consensus rating of “Buy” and a consensus target price of $5.58.

Shares of MNKD stock opened at $4.31 on Friday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -20.52 and a beta of 2.28. The stock has a 50 day simple moving average of $4.26 and a 200-day simple moving average of $3.76. MannKind has a 1-year low of $1.19 and a 1-year high of $6.25.

MannKind (NASDAQ:MNKD) last announced its earnings results on Wednesday, May 12th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01).

Several institutional investors and hedge funds have recently modified their holdings of MNKD. Metropolitan Life Insurance Co NY acquired a new stake in shares of MannKind in the 1st quarter worth $117,000. Kestra Advisory Services LLC acquired a new stake in shares of MannKind in the 4th quarter worth $51,000. Pacer Advisors Inc. acquired a new stake in shares of MannKind in the 4th quarter worth $34,000. Kestra Private Wealth Services LLC acquired a new stake in shares of MannKind in the 4th quarter worth $60,000. Finally, XTX Markets LLC acquired a new stake in shares of MannKind in the 4th quarter worth $38,000. 29.60% of the stock is owned by institutional investors and hedge funds.

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. The company offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes. It also promotes Thyquidity used for the treatment of hypothyroidism.

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Earnings History and Estimates for MannKind (NASDAQ:MNKD)

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