MannKind (NASDAQ:MNKD) Announces Earnings Results

MannKind (NASDAQ:MNKD) announced its quarterly earnings data on Wednesday. The biopharmaceutical company reported $0.05 earnings per share for the quarter, topping 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 analysts’ expectations of $60.55 million. The company’s revenue was up 63.1% compared to the same quarter last year. During the same period last year, the business posted ($0.04) EPS.

MannKind Trading Down 1.6 %

NASDAQ:MNKD traded down $0.07 during mid-day trading on Wednesday, reaching $4.40. The company’s stock had a trading volume of 1,963,506 shares, compared to its average volume of 2,856,575. The firm’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $3.92. The stock has a market cap of $1.19 billion, a P/E ratio of -88.00 and a beta of 1.34. MannKind has a 12-month low of $3.17 and a 12-month high of $5.75.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.50 price objective on shares of MannKind in a report on Friday, March 15th. Wedbush reissued an “outperform” rating and set a $10.00 price objective on shares of MannKind in a report on Wednesday, February 28th.

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.