MannKind (NASDAQ:MNKD) Announces Earnings Results, Beats Estimates By $0.02 EPS

MannKind (NASDAQ:MNKD) released its earnings results on Wednesday. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02, Briefing.com reports. The firm had revenue of $66.26 million during 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 period in the prior year, the firm earned ($0.04) earnings per share.

MannKind Trading Down 2.0 %

NASDAQ:MNKD traded down $0.09 during mid-day trading on Thursday, hitting $4.31. The stock had a trading volume of 492,874 shares, compared to its average volume of 2,827,892. The company has a market capitalization of $1.17 billion, a PE ratio of -88.60 and a beta of 1.34. MannKind has a twelve month low of $3.17 and a twelve month high of $5.75. The stock has a 50-day simple moving average of $4.46 and a two-hundred day simple moving average of $3.93.

Analyst Ratings Changes

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

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.