MannKind (MNKD) AI Stock Analysis

• Market Cap: $1.86B
• Dividend Yield: N/A
• Average Volume (3M): 4.63M
• Price to Earnings (P/E): 60.4
• Beta (1Y): 0.82
• Revenue Growth: 17.44%
• EPS Growth: 24.15%
• Country: US
• Employees: 403
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 0.03
• Shares Outstanding: 306,828,340
• 10 Day Avg. Volume: 4,644,081
• 30 Day Avg. Volume: 4,626,298
• PEG Ratio: -0.20
• Price to Book (P/B): -22.39
• Price to Sales (P/S): 6.18
• P/FCF Ratio: 53.77
• Enterprise Value/Market Cap: 0.88
• Enterprise Value/Revenue: 5.22
• Enterprise Value/Gross Profit: 6.82
• Enterprise Value/Ebitda: 22.11
• 1Y Price Target: $10.67
• Price Target Upside: 89.52% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): 0.09
• Revenue Forecast (FY): $321.24M

• Rating: 64 Neutral
• Price Target: $6.50 ▲(15.45% Upside)

MannKind's overall stock score reflects a mix of strengths and challenges. The most significant factor is the company's strong revenue growth and strategic acquisitions, as highlighted in the earnings call. Technical analysis supports a positive outlook with bullish momentum. However, the high P/E ratio and balance sheet concerns, including negative equity, weigh on the score.

Positive Factors

Revenue Growth

Record revenue growth indicates strong demand and successful product performance, particularly from Tyvaso DPI and Afrezza, supporting long-term business expansion.

Strategic Acquisitions

The acquisition of scPharmaceuticals expands MannKind's product portfolio into cardiorenal medicine, enhancing its market position and growth potential in new therapeutic areas.

Cash Flow Generation

Strong cash flow generation supports MannKind's ability to fund operations and strategic initiatives, ensuring financial stability and flexibility for future growth.

Negative Factors

Balance Sheet Health

Negative equity and high leverage pose risks to financial stability, potentially limiting MannKind's ability to invest in growth and manage economic downturns.

SG&A Expenses

Rising SG&A expenses could pressure margins and profitability, necessitating careful management to maintain operational efficiency and long-term financial health.

VGo Revenue Decline

Declining VGo revenue reflects challenges in product demand, potentially affecting overall revenue diversification and necessitating strategic adjustments.

MannKind Business Overview & Revenue Model

Company Description

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. It also promotes Thyquidity to adult and pediatric endocrinologists, and other healthcare providers for the treatment of hypothyroidism. The company has a license and collaboration agreement with United Therapeutics Corporation. It also has an agreement with NRx Pharmaceuticals to develop a dry powder formulation of ZYESAMI (aviptadil), a synthetic form of human vasoactive intestinal peptide to help protect cells against inflammatory conditions. MannKind Corporation was incorporated in 1991 and is headquartered in Westlake Village, California.

How the Company Makes Money

MannKind generates revenue primarily through the sales of Afrezza, which is marketed to patients with diabetes requiring insulin therapy. The company earns money from the direct sale of Afrezza to pharmacies and healthcare providers, as well as from partnerships with pharmaceutical distributors. Additionally, MannKind may receive royalties and milestone payments from collaborations with other companies that utilize its Technosphere technology for their own drug formulations. The company’s revenue model is heavily impacted by the demand for Afrezza, market competition, and ongoing marketing efforts to educate both healthcare professionals and patients about the benefits of inhaled insulin.

MannKind Financial Statement Overview

Summary

MannKind's financial performance is mixed. The income statement shows growth and improved profitability, with a strong gross profit margin of 74.91% and a net profit margin of 10.87%. The cash flow statement highlights robust cash generation capabilities with a 50.72% increase in free cash flow. However, the balance sheet presents significant challenges, including negative stockholders' equity and high financial leverage, posing potential risks.

Income Statement

MannKind's income statement shows a positive trajectory with a consistent increase in total revenue and gross profit margins over the years. The TTM data reflects a gross profit margin of 74.91% and a net profit margin of 10.87%, indicating improved profitability. However, the EBIT and EBITDA margins have slightly decreased compared to the previous year, suggesting some operational challenges. Overall, the revenue growth rate of 3.99% in the TTM period is a positive indicator of growth.

Balance Sheet

The balance sheet reveals significant challenges with a negative stockholders' equity, leading to a negative debt-to-equity ratio. This indicates high financial leverage and potential risk. The return on equity is also negative, reflecting the company's struggle to generate profits from its equity base. Despite a stable asset base, the negative equity ratio is a concern for long-term financial stability.

Cash Flow

Cash flow analysis shows a strong improvement in free cash flow growth at 50.72% in the TTM period, indicating better cash generation capabilities. The operating cash flow to net income ratio is positive, suggesting efficient cash conversion from operations. The free cash flow to net income ratio of 83.33% further supports the company's ability to generate cash relative to its net income, showcasing a healthy cash flow position.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	313.79M	285.50M	198.96M	99.77M	75.44M	65.14M
Gross Profit	240.39M	208.90M	136.19M	42.27M	36.59M	40.50M
EBITDA	74.15M	77.47M	15.13M	-56.34M	-61.09M	-45.01M
Net Income	29.23M	27.59M	-11.94M	-112.17M	-91.79M	-57.24M
Balance Sheet
Total Assets	494.64M	393.84M	475.20M	295.28M	321.16M	108.61M
Cash, Cash Equivalents and Short-Term Investments	260.04M	197.26M	295.10M	170.85M	204.12M	67.00M
Total Debt	46.48M	47.70M	382.38M	382.91M	382.74M	123.44M
Total Liabilities	539.19M	472.66M	721.37M	545.82M	530.51M	289.03M
Stockholders Equity	-44.55M	-78.82M	-246.17M	-250.54M	-209.35M	-180.42M
Cash Flow
Free Cash Flow	43.39M	32.82M	-8.35M	-88.27M	-73.17M	-32.91M
Operating Cash Flow	48.86M	42.51M	34.09M	-80.68M	-61.71M	-28.13M
Investing Cash Flow	35.38M	-96.65M	-1.99M	4.87M	-151.54M	15.22M
Financing Cash Flow	-19.21M	-137.27M	136.61M	21.41M	270.27M	49.85M

MannKind Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.63
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MNKD, the sentiment is Positive. The current price of 5.63 is above the 20-day moving average (MA) of 5.47, above the 50-day MA of 5.44, and above the 200-day MA of 4.78, indicating a bullish trend. The MACD of 0.11 indicates Negative momentum. The RSI at 54.29 is Neutral, neither overbought nor oversold. The STOCH value of 55.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MNKD.

MannKind Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MNKD	64 Neutral	$1.86B	60.45	―	―	17.44%	24.15%
IMCR	52 Neutral	$1.55B	―	-5.38%	―	26.90%	62.72%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
BCRX	46 Neutral	$1.48B	―	―	―	45.38%	92.85%
SRPT	45 Neutral	$1.82B	―	-21.37%	―	47.15%	-311.26%
CLDX	38 Underperform	$1.58B	―	-27.17%	―	-30.25%	-9.70%
COGT	37 Underperform	$1.97B	―	-95.40%	―	―	4.68%

MannKind Corporate Events

MannKind Corporation Reports Strong Q3 2025 Growth

MannKind Corporation is a biopharmaceutical company focused on developing and commercializing innovative therapies for chronic diseases, particularly in the cardiometabolic and orphan lung disease sectors. In its third quarter of 2025, MannKind reported a revenue increase of 17% compared to the same period in 2024, reaching $82.1 million. The company also completed the acquisition of scPharmaceuticals, which is expected to accelerate revenue growth through FUROSCIX, a therapy for edema associated with chronic heart failure and kidney disease. Key financial highlights include a 23% increase in Afrezza sales and a 14% year-to-date revenue growth. MannKind’s strategic initiatives include the FDA’s acceptance of Afrezza’s pediatric sBLA, the submission of FUROSCIX ReadyFlow Autoinjector sNDA, and progress in clinical trials for MNKD-101 and MNKD-201. Looking ahead, MannKind’s management remains optimistic about the company’s growth prospects, driven by its diversified portfolio and ongoing clinical developments.

MannKind’s Record Q3 2025 Earnings and Strategic Moves

MannKind Corporation’s recent earnings call painted a picture of robust growth and strategic expansion, despite some challenges. The company reported strong revenue performance, largely driven by Tyvaso DPI and Afrezza, and highlighted strategic growth initiatives such as the acquisition of scPharmaceuticals. Although there were challenges like a decline in VGo revenue and increased SG&A expenses, the positive aspects of revenue growth and strategic acquisitions were more prominent.

MannKind Completes Acquisition of scPharma

On October 7, 2025, MannKind completed the acquisition of scPharma, making it a wholly-owned subsidiary. This acquisition was facilitated through a merger agreement and involved a contingent value rights agreement, which outlines milestone payments based on FDA approval and sales targets. The acquisition was funded by MannKind’s available cash and borrowings under a credit agreement, with a total transaction cost of approximately $296.5 million. The merger aims to enhance MannKind’s market position by integrating scPharma’s drug-device combination products and leveraging potential sales growth.

The most recent analyst rating on (MNKD) stock is a Buy with a $11.00 price target. To see the full list of analyst forecasts on MannKind stock, see the MNKD Stock Forecast page.

MannKind Corporation’s Phase 3 Study: A Potential Game-Changer for Nontuberculous Mycobacterial Infections

Study Overview: MannKind Corporation is conducting a Phase 3 clinical study titled ICoN-1: A Randomized, Double-Blind, Placebo-Controlled Phase 3 Study of the Efficacy and Safety of Clofazimine Inhalation Suspension When Added to Guideline-Based Therapy in Participants With Nontuberculous Mycobacterial Infection. The study aims to evaluate the efficacy and safety of Clofazimine Inhalation Suspension compared to a placebo in treating nontuberculous mycobacterial infections, which are notoriously difficult to treat and can significantly impact patient health.

MannKind Amends License Agreement with United Therapeutics

On August 24, 2025, MannKind Corporation amended its global license agreement with United Therapeutics to include an additional development product. MannKind will use its Technosphere® platform to formulate an investigational molecule and manufacture clinical trial materials, while United Therapeutics will handle preclinical and clinical development. MannKind will receive a $5 million upfront payment, up to $35 million in milestone payments, and 10% royalties on net sales if the product is approved.

The most recent analyst rating on (MNKD) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on MannKind stock, see the MNKD Stock Forecast page.

MannKind Announces Acquisition of scPharmaceuticals

On August 24, 2025, MannKind Corporation announced a definitive merger agreement to acquire scPharmaceuticals Inc. for $5.35 per share in cash and a contingent value right (CVR) worth up to $1.00 per share. This acquisition is expected to diversify and accelerate MannKind’s revenue growth, particularly with the FUROSCIX product, and strengthen its position in cardiometabolic and lung diseases. The merger is anticipated to close in the fourth quarter of 2025, subject to regulatory approvals, and aims to integrate scPharmaceuticals’ commercial capabilities into MannKind’s existing infrastructure, potentially expanding market opportunities and creating value for stakeholders.

The most recent analyst rating on (MNKD) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on MannKind stock, see the MNKD Stock Forecast page.

MannKind Corporation’s Earnings Call Highlights Growth and Challenges

MannKind Corporation’s recent earnings call showcased a positive sentiment, driven by robust financial metrics and promising developments in their product pipeline. The company reported significant growth in Tyvaso DPI and Afrezza revenues, although challenges were noted in V-Go revenue and manufacturing timing. Despite these hurdles, the outlook remains optimistic with strategic plans and financial resources poised to support future growth.

MannKind Corporation Reports Q2 2025 Financial Growth

MannKind Corporation is a pharmaceutical company specializing in the development and commercialization of inhaled therapeutic products, primarily targeting endocrine and orphan lung diseases.