MannKind (NASDAQ:MNKD – Get Free Report) issued its quarterly earnings results on Wednesday. The biopharmaceutical company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03, Zacks reports. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%.
MannKind Trading Down 3.2 %
Shares of MannKind stock traded down $0.18 during trading on Wednesday, hitting $5.47. 3,181,156 shares of the stock were exchanged, compared to its average volume of 1,912,205. MannKind has a 1-year low of $3.57 and a 1-year high of $7.63. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 78.14 and a beta of 1.28. The company has a fifty day moving average price of $6.05 and a 200-day moving average price of $6.29.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on MNKD shares. StockNews.com cut shares of MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Wedbush began coverage on shares of MannKind in a research report on Monday, February 10th. They set an “outperform” rating and a $11.00 price target on the stock. Wells Fargo & Company initiated coverage on MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price objective for the company. Finally, Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $7.00 to $10.00 in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, MannKind presently has an average rating of “Buy” and an average price target of $9.21.
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.
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