MannKind Corporation (NASDAQ:MNKD) will post its first quarter 2014 quarterly earnings on Monday May 12. Analysts estimate the company will post losses of 13 cents per share for the quarter. On average, analysts expect the company to post losses of 35 cents per share for the full fiscal year and losses of 20 cents per share for the next fiscal year.
Analyst ratings on the stock
The last earnings report from the company wwas released on February 18. The company posted losses per share of 16 cents, which was below analysts estimates of 14 cents per share in losses. For the fourth quarter of the last fiscal year, operating expenses came in at $46.6 million, compared to $33.5 million in the last quarter of 2012. For the full year 2013, operating expenses came in at $169.4 million, compared to $147 million for the fiscal year 2012.
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The company has been the focus of ratings from several analysts. Zacks analysts maintained their Neutral rating on the stock in a research note to investors dated April 22, 2014. They have assigned it a price target of $6.75 per share. Brinson Patrick analysts, in a research note dated April 8, 2014, have started covering MannKind Corporation (NASDAQ:MNKD) shares and assigned an Outperform rating on the stock with a price target of $12 a share. MLV& Co analysts increased their price target from $9 to $11 in a research note dated April 2, 2014, assigning the stock a Buy rating. MannKind currently has a consensus rating of Hold and a consensus price target of $6.88.
What moves Mannkind shares?
MannKind Corporation (NASDAQ:MNKD) shares have not been impacted much by its earnings performance. Shares are reacting to speculations surrounding the company’s insulin inhaler Afrezza. Shares declined heavily in April after competitor Dance Biopharm filed for an initial public offering. Toward the beginning of April, Afrezza was recommended by U.S Food and Drug Administration regulators, who voted 13 to 1 and 14 to 0 in favor of the drug for type-1 and type-2 diabetes. However, the stock reversed after the FDA announced that it has extended the review date to July 15.
Chief Operating Officer Hakan Edstrom said the company is preparing to step into the pain management market as well. MannKind Corporation (NASDAQ:MNKD) is in the pre-clinical phase regarding its pain management research efforts. At present, the company is focusing on Afrezza, thereby spending fewer hours on pain management research.