Cantor Fitzgerald Comments on MannKind Co.’s FY2022 Earnings (NASDAQ:MNKD)

MannKind Co. (NASDAQ:MNKDGet Rating) – Equities researchers at Cantor Fitzgerald dropped their FY2022 earnings per share estimates for MannKind in a research note issued on Wednesday, April 27th. Cantor Fitzgerald analyst B. Folkes now forecasts that the biopharmaceutical company will post earnings per share of ($0.39) for the year, down from their previous estimate of ($0.35).

MannKind (NASDAQ:MNKDGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). The business had revenue of $12.52 million during the quarter, compared to the consensus estimate of $16.99 million. During the same period in the prior year, the company earned ($0.06) earnings per share.

Several other equities analysts also recently commented on MNKD. HC Wainwright lowered their price target on MannKind from $6.50 to $6.00 and set a “buy” rating on the stock in a report on Monday, February 28th. StockNews.com upgraded shares of MannKind to a “sell” rating in a research note on Thursday, March 24th. Finally, Zacks Investment Research lowered shares of MannKind from a “hold” rating to a “sell” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.50.

Shares of MNKD stock opened at $3.23 on Friday. The stock’s 50 day simple moving average is $3.46 and its 200 day simple moving average is $4.03. MannKind has a twelve month low of $2.49 and a twelve month high of $5.53. The company has a market capitalization of $814.78 million, a price-to-earnings ratio of -10.09 and a beta of 1.98.

In other news, insider Alejandro Galindo bought 36,900 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were acquired at an average cost of $2.71 per share, with a total value of $99,999.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony C. Hooper purchased 40,000 shares of the business’s stock in a transaction on Monday, February 28th. The stock was purchased at an average cost of $2.71 per share, with a total value of $108,400.00. The disclosure for this purchase can be found here. Insiders bought 79,945 shares of company stock valued at $218,052 over the last three months. 2.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank bought a new position in MannKind in the fourth quarter worth $1,819,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of MannKind during the 4th quarter valued at about $470,000. HighTower Advisors LLC boosted its position in shares of MannKind by 40.0% during the 3rd quarter. HighTower Advisors LLC now owns 52,267 shares of the biopharmaceutical company’s stock valued at $228,000 after acquiring an additional 14,946 shares in the last quarter. Gotham Asset Management LLC bought a new stake in MannKind in the third quarter valued at about $114,000. Finally, Macquarie Group Ltd. acquired a new position in MannKind in the third quarter worth about $26,000. Institutional investors and hedge funds own 43.41% of the company’s stock.

MannKind Company Profile (Get Rating)

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. It also promotes Thyquidity to adult and pediatric endocrinologists, and other healthcare providers for the treatment of hypothyroidism.

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Earnings History and Estimates for MannKind (NASDAQ:MNKD)

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