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

MannKind (NASDAQ:MNKD) announced its earnings results on Wednesday. The biopharmaceutical company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02, Briefing.com reports. The business had revenue of $66.26 million during the quarter, compared to analyst estimates of $60.55 million. The firm’s revenue was up 63.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) earnings per share.

MannKind Price Performance

MannKind stock traded down $0.07 during mid-day trading on Wednesday, reaching $4.40. 1,960,705 shares of the company were exchanged, compared to its average volume of 2,856,544. The company has a fifty day simple moving average of $4.45 and a 200-day simple moving average of $3.92. The firm has a market cap of $1.19 billion, a PE 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

Several research firms have recently weighed in on MNKD. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.50 price objective on shares of MannKind in a research report on Friday, March 15th. Wedbush reissued an “outperform” rating and set a $10.00 price target on shares of MannKind in a research 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.