Brokerages Anticipate MannKind Co. (NASDAQ:MNKD) Will Post Quarterly Sales of $16.99 Million

Equities analysts expect that MannKind Co. (NASDAQ:MNKD) will report sales of $16.99 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for MannKind’s earnings, with the highest sales estimate coming in at $18.20 million and the lowest estimate coming in at $15.87 million. MannKind posted sales of $18.44 million during the same quarter last year, which suggests a negative year over year growth rate of 7.9%. The business is scheduled to announce its next quarterly earnings report on Thursday, February 24th.

On average, analysts expect that MannKind will report full year sales of $79.90 million for the current fiscal year, with estimates ranging from $78.80 million to $81.10 million. For the next financial year, analysts expect that the firm will post sales of $75.88 million, with estimates ranging from $61.60 million to $89.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow MannKind.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Tuesday, November 9th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. During the same period in the prior year, the company earned ($0.05) earnings per share.

Several equities research analysts recently commented on the company. Zacks Investment Research upgraded MannKind from a “sell” rating to a “hold” rating in a report on Saturday, November 13th. HC Wainwright lifted their price objective on MannKind from $6.00 to $6.50 and gave the stock a “buy” rating in a report on Thursday, November 11th. They noted that the move was a valuation call. Cantor Fitzgerald restated an “overweight” rating on shares of MannKind in a research note on Friday, November 12th. Finally, SVB Leerink restated an “outperform” rating on shares of MannKind in a research note on Tuesday, November 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $6.30.

Several hedge funds have recently bought and sold shares of MNKD. Macquarie Group Ltd. purchased a new position in shares of MannKind during the 3rd quarter valued at about $26,000. Truvestments Capital LLC purchased a new position in shares of MannKind during the 2nd quarter valued at about $27,000. Private Advisor Group LLC purchased a new position in shares of MannKind during the 3rd quarter valued at about $44,000. Moors & Cabot Inc. lifted its holdings in MannKind by 204.3% in the 3rd quarter. Moors & Cabot Inc. now owns 35,000 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 23,500 shares in the last quarter. Finally, QCM Cayman Ltd. purchased a new position in MannKind in the 3rd quarter worth approximately $45,000. 43.64% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ MNKD traded up $0.09 during trading hours on Thursday, hitting $4.85. The company’s stock had a trading volume of 1,481,460 shares, compared to its average volume of 3,910,943. MannKind has a 12 month low of $2.68 and a 12 month high of $6.25. The company’s 50 day simple moving average is $4.76 and its two-hundred day simple moving average is $4.54. The company has a market cap of $1.22 billion, a P/E ratio of -15.16 and a beta of 1.82.

MannKind Company Profile

MannKind Corp. operates as a biopharmaceutical company. It focuses on the discovery, development and commercialization of therapeutic products for diseases, such as diabetes and cancer. The company was founded by Alfred E. Mann on February 14, 1991 and is headquartered in Westlake Village, CA.

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Earnings History and Estimates for MannKind (NASDAQ:MNKD)

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