MannKind (NASDAQ:MNKD) Announces Quarterly Earnings Results

MannKind (NASDAQ:MNKD) posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03), Zacks reports. The firm had revenue of $90.17 million for the quarter, compared to analysts’ expectations of $105.38 million. MannKind had a negative return on equity of 11.21% and a negative net margin of 6.63%.MannKind’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share.

Here are the key takeaways from MannKind’s conference call:

• United Therapeutics collaboration expanded — MannKind unveiled MNKD-1501 as ralinepag DPI, received $5M upfront, can earn up to $35M in milestones (about $15M expected in 12 months) plus a 10% royalty, and was confirmed as sole manufacturer of Tyvaso DPI with contractual minimums.
• FUROSCIX momentum and guidance — Q1 net sales for FUROSCIX were $15.5M with doses dispensed up ~64% YoY, record prescribers, and management reaffirmed 2026 FUROSCIX revenue guidance of $110M–$120M.
• Near-term regulatory catalysts — Two PDUFA events (Afrezza Pediatrics on May 29 and FUROSCIX ReadyFlow auto?injector on July 26) could materially expand addressable markets and adoption if approved.
• MNKD?201 (nintedanib DPI) advancing — Cohort 1 of the phase I?B InFlow study in IPF patients is complete with no discontinuations for cough or serious AEs, top?line data expected in Q3, and global phase II enrollment has started.
• Q1 profitability pressure — Company reported a GAAP net loss of $16.6M (non?GAAP loss $6.9M) driven by increased R&D and commercial investments for the planned launches and scPharmaceuticals integration, though management says liquidity is sufficient.

MannKind Price Performance

Shares of NASDAQ MNKD opened at $3.53 on Tuesday. The stock has a market capitalization of $1.09 billion, a P/E ratio of -50.42 and a beta of 1.13. MannKind has a one year low of $2.23 and a one year high of $6.51. The firm’s 50 day simple moving average is $2.89 and its two-hundred day simple moving average is $4.33.

Insiders Place Their Bets

In related news, CEO Michael Castagna bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $2.59 per share, for a total transaction of $259,000.00. Following the acquisition, the chief executive officer directly owned 2,575,911 shares of the company’s stock, valued at $6,671,609.49. The trade was a 4.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven B. Binder sold 16,940 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $3.29, for a total value of $55,732.60. Following the transaction, the director owned 808,008 shares in the company, valued at approximately $2,658,346.32. The trade was a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jain Global LLC purchased a new position in shares of MannKind in the third quarter valued at about $634,000. Lazard Asset Management LLC purchased a new stake in shares of MannKind during the fourth quarter worth about $415,000. Aquatic Capital Management LLC bought a new stake in shares of MannKind in the third quarter worth about $296,000. Osaic Holdings Inc. grew its stake in shares of MannKind by 60.6% in the second quarter. Osaic Holdings Inc. now owns 59,015 shares of the biopharmaceutical company’s stock worth $221,000 after purchasing an additional 22,278 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new position in MannKind during the 4th quarter valued at about $212,000. Institutional investors own 49.55% of the company’s stock.

Wall Street Analyst Weigh In

MNKD has been the subject of a number of recent research reports. Wedbush reduced their price objective on shares of MannKind from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday, March 5th. Weiss Ratings cut MannKind from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Mizuho decreased their price objective on MannKind from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. HC Wainwright lifted their target price on MannKind from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Wall Street Zen cut MannKind from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $8.97.

MannKind Company Profile

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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).