Equities research analysts expect MannKind Co. (NASDAQ:MNKD) to report sales of $13.59 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for MannKind’s earnings, with the highest sales estimate coming in at $16.00 million and the lowest estimate coming in at $10.14 million. MannKind reported sales of $3.89 million during the same quarter last year, which would suggest a positive year over year growth rate of 249.4%. The business is expected to issue its next quarterly earnings results on Thursday, August 1st.
On average, analysts expect that MannKind will report full-year sales of $74.53 million for the current fiscal year, with estimates ranging from $64.85 million to $92.70 million. For the next fiscal year, analysts anticipate that the firm will report sales of $99.51 million, with estimates ranging from $84.18 million to $114.26 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow MannKind.
MannKind (NASDAQ:MNKD) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.02. The company had revenue of $17.45 million during the quarter, compared to analyst estimates of $18.03 million. During the same period in the previous year, the company earned ($0.25) EPS.
A number of large investors have recently modified their holdings of MNKD. CVI Holdings LLC purchased a new stake in MannKind during the fourth quarter worth about $11,359,000. Raging Capital Management LLC increased its stake in MannKind by 7,166.3% during the fourth quarter. Raging Capital Management LLC now owns 3,444,971 shares of the biopharmaceutical company’s stock worth $3,652,000 after purchasing an additional 3,397,561 shares during the period. Highbridge Capital Management LLC purchased a new stake in MannKind during the fourth quarter worth about $2,649,000. BlackRock Inc. increased its stake in MannKind by 12.7% during the third quarter. BlackRock Inc. now owns 11,682,722 shares of the biopharmaceutical company’s stock worth $21,381,000 after purchasing an additional 1,321,050 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of MannKind by 29.2% during the first quarter. Geode Capital Management LLC now owns 2,152,020 shares of the biopharmaceutical company’s stock worth $4,239,000 after buying an additional 485,916 shares during the period. Institutional investors own 30.26% of the company’s stock.
NASDAQ MNKD traded down $0.01 during trading hours on Friday, reaching $1.31. The company had a trading volume of 49,081 shares, compared to its average volume of 1,787,283. MannKind has a 1-year low of $0.94 and a 1-year high of $3.04. The stock has a market capitalization of $247.87 million, a P/E ratio of -2.22 and a beta of 2.56.
MannKind Company Profile
MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.
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