MannKind Corporation (MNKD) Releases Earnings Results, Misses Expectations By $0.10 EPS
MannKind Corporation (NASDAQ:MNKD) announced its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.10, RTT News reports. The company had revenue of $2.16 million for the quarter, compared to analyst estimates of $2.75 million. During the same period in the previous year, the company posted $0.08 earnings per share.
Shares of MannKind Corporation (NASDAQ MNKD) traded down 2.5556% during midday trading on Tuesday, hitting $1.1401. 702,706 shares of the company were exchanged. The stock has a market cap of $115.16 million, a PE ratio of 0.8057 and a beta of 3.30. MannKind Corporation has a one year low of $0.67 and a one year high of $5.05. The stock’s 50-day moving average is $1.37 and its 200-day moving average is $1.22.
A number of brokerages recently weighed in on MNKD. ValuEngine downgraded shares of MannKind Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies set a $1.00 price objective on shares of MannKind Corporation and gave the company a “sell” rating in a research report on Thursday, May 11th. S&P Equity Research lowered their price objective on shares of MannKind Corporation from $1.04 to $0.83 in a research report on Monday, May 8th. Finally, J P Morgan Chase & Co reaffirmed an “underweight” rating on shares of MannKind Corporation in a research report on Monday, May 22nd.
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About MannKind Corporation
MannKind Corporation is a biopharmaceutical company. The Company is focused on the discovery and development of therapeutic products for diseases, such as diabetes. Its product candidate is AFREZZA, which is an inhaled insulin used to control high blood sugar in adults with type I and type II diabetes and helps in glycemic control.
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