FY2028 EPS Estimates for MannKind Boosted by HC Wainwright
HC Wainwright has raised its FY2028 earnings per share estimate for MannKind Corporation (NASDAQ:MNKD) from $0.37 to $0.38, maintaining a "Buy" rating with a price target of $11.00. Other analysts have also increased their price targets, with Wells Fargo raising it to $10.00 and Royal Bank of Canada to $8.00. MannKind's current earnings consensus is $0.10 per share. The stock opened at $5.51, with a market cap of $1.69 billion and a P/E ratio of 50.10. Insider trading activity and institutional investments have also been noted.
MannKind Corporation (NASDAQ:MNKD - Free Report) - Stock analysts at HC Wainwright increased their FY2028 earnings per share estimates for MannKind in a research report issued to clients and investors on Tuesday, September 2nd. HC Wainwright analyst B. Folkes now expects that the biopharmaceutical company will post earnings per share of $0.38 for the year, up from their prior forecast of $0.37. HC Wainwright has a "Buy" rating and a $11.00 price target on the stock. The consensus estimate for MannKind's current full-year earnings is $0.10 per share. HC Wainwright also issued estimates for MannKind's FY2029 earnings at $0.65 EPS.
A number of other equities analysts have also recently issued reports on MNKD. Wells Fargo & Company raised their target price on MannKind from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Wednesday. Royal Bank Of Canada lifted their price objective on MannKind from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Tuesday, August 26th. Finally, Wall Street Zen cut MannKind from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Two research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $10.00.
Check Out Our Latest Stock Report on MNKD
MannKind Trading Down 4.0%
Shares of MNKD opened at $5.51 on Thursday. MannKind has a 1 year low of $3.38 and a 1 year high of $7.63. The stock has a market cap of $1.69 billion, a P/E ratio of 50.10 and a beta of 1.02. The stock's 50-day moving average price is $3.93 and its two-hundred day moving average price is $4.44.
MannKind (NASDAQ:MNKD - Get Free Report) last issued its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. MannKind had a negative return on equity of 32.60% and a net margin of 10.87%.The firm had revenue of $76.53 million for the quarter, compared to analysts' expectations of $77.82 million. During the same quarter last year, the business earned $0.05 earnings per share. The company's revenue was up 5.7% compared to the same quarter last year.
Insider Buying and Selling at MannKind
In other news, Director Steven B. Binder sold 75,367 shares of MannKind stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $3.94, for a total transaction of $296,945.98. Following the transaction, the director owned 830,508 shares in the company, valued at $3,272,201.52. The trade was a 8.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by company insiders.
Institutional Investors Weigh In On MannKind
A number of hedge funds and other institutional investors have recently bought and sold shares of MNKD. Dimensional Fund Advisors LP raised its position in MannKind by 40.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,958,219 shares of the biopharmaceutical company's stock valued at $19,022,000 after buying an additional 855,261 shares during the last quarter. Hsbc Holdings PLC raised its position in MannKind by 49.7% in the 4th quarter. Hsbc Holdings PLC now owns 31,327 shares of the biopharmaceutical company's stock valued at $203,000 after buying an additional 10,407 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in MannKind by 12.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 175,009 shares of the biopharmaceutical company's stock valued at $1,126,000 after buying an additional 18,806 shares during the last quarter. Northern Trust Corp raised its position in MannKind by 8.1% in the 4th quarter. Northern Trust Corp now owns 2,777,784 shares of the biopharmaceutical company's stock valued at $17,861,000 after buying an additional 207,792 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in MannKind by 145.4% in the 4th quarter. Ameriprise Financial Inc. now owns 43,685 shares of the biopharmaceutical company's stock valued at $281,000 after buying an additional 25,880 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company's stock.
MannKind Company Profile
(Get Free Report)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.
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