Leerink Partnrs Reduces Earnings Estimates for MannKind

MannKind Co. (NASDAQ:MNKD) – Analysts at Leerink Partnrs decreased their FY2025 earnings estimates for shares of MannKind in a research note issued on Wednesday, December 18th. Leerink Partnrs analyst F. Khurshid now forecasts that the biopharmaceutical company will post earnings per share of $0.16 for the year, down from their prior forecast of $0.18. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for MannKind’s current full-year earnings is $0.10 per share.

Several other equities analysts also recently weighed in on MNKD. Royal Bank of Canada raised MannKind from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. Leerink Partners initiated coverage on MannKind in a research report on Monday, September 9th. They set an “outperform” rating and a $8.00 price objective for the company. StockNews.com downgraded shares of MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. Wells Fargo & Company assumed coverage on MannKind in a research note on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target on the stock. Finally, Oppenheimer lifted their price target on shares of MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $8.88.

MannKind Stock Down 4.0 %

MannKind stock opened at $6.74 on Monday. The firm has a market capitalization of $1.86 billion, a PE ratio of 96.29 and a beta of 1.28. MannKind has a 52 week low of $3.17 and a 52 week high of $7.63. The firm’s 50-day simple moving average is $6.77 and its 200 day simple moving average is $6.07.

Insider Transactions at MannKind

In other MannKind news, insider Stuart A. Tross sold 55,000 shares of MannKind stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $7.34, for a total value of $403,700.00. Following the completion of the transaction, the insider now directly owns 967,191 shares in the company, valued at $7,099,181.94. The trade was a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven B. Binder sold 67,536 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $6.89, for a total value of $465,323.04. Following the transaction, the director now directly owns 1,075,026 shares of the company’s stock, valued at $7,406,929.14. This trade represents a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 190,075 shares of company stock valued at $1,325,587. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNKD. State Street Corp increased its position in MannKind by 0.4% in the third quarter. State Street Corp now owns 9,597,137 shares of the biopharmaceutical company’s stock worth $60,366,000 after buying an additional 40,338 shares during the period. Geode Capital Management LLC grew its position in shares of MannKind by 0.4% during the third quarter. Geode Capital Management LLC now owns 6,338,928 shares of the biopharmaceutical company’s stock worth $39,880,000 after acquiring an additional 24,031 shares during the last quarter. Millennium Management LLC increased its holdings in shares of MannKind by 189.8% in the 2nd quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock worth $24,766,000 after acquiring an additional 3,107,598 shares during the period. Parkman Healthcare Partners LLC lifted its position in MannKind by 37.1% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 3,304,085 shares of the biopharmaceutical company’s stock valued at $20,783,000 after purchasing an additional 894,486 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in MannKind by 60.7% during the 3rd quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company’s stock valued at $16,658,000 after purchasing an additional 1,000,600 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.

About MannKind

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.