MannKind (MNKD) AI Stock Analysis

• Market Cap: $1.19B
• Dividend Yield: N/A
• Average Volume (3M): 1.99M
• Price to Earnings (P/E): 38.9
• Beta (1Y): 0.75
• Revenue Growth: 32.50%
• EPS Growth: 236.33%
• Country: US
• Employees: 403
• Sector: Healthcare
• Sector Strength: 44
• Industry: Biotechnology
• EPS (TTM): 0.04
• Shares Outstanding: 303,932,860
• 10 Day Avg. Volume: 2,416,563
• 30 Day Avg. Volume: 1,986,824
• PEG Ratio: -0.64
• Price to Book (P/B): -5.41
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -15.35
• Enterprise Value/Market Cap: 1.40
• Enterprise Value/Revenue: 1.52
• Enterprise Value/Gross Profit: 7.51
• Enterprise Value/Ebitda: 6.48
• 1Y Price Target: $10.00
• Price Target Upside: 161.10% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6

• Rating: 63 Neutral
• Price Target: $4.00 ▲(4.44%Upside)

MannKind's overall stock score is driven by its strong revenue growth and positive earnings call sentiment. However, high financial leverage and negative equity on the balance sheet present significant risks. Additionally, bearish technical indicators and a high P/E ratio contribute to a cautious outlook.

Positive Factors

Market Expansion

Prospects of Afrezza in additional patient populations suggest potential market expansion.

Revenue Growth

Strong Tyvaso DPI revenue growth was reported by MannKind's partner, United Therapeutics, indicating robust performance and potential for continued growth.

Royalty Revenue

MannKind Corporation will be eligible for royalties from Tyvaso DPI revenue in IPF, which is considered as an upside potential.

Negative Factors

Conflict of Interest

Wedbush Securities may have a conflict of interest that could affect the objectivity of this report.

Market Adoption Challenges

The recent data from INHALE-3 study in adult patients and INHALE-1 study impacts Afrezza’s market adoption.

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 Corporation generates revenue primarily through the sales of its flagship product, Afrezza, an inhalable insulin. Revenue is derived from direct sales to healthcare providers, pharmacies, and distributors who supply this product to end-users. Additionally, MannKind enters into strategic partnerships and licensing agreements with other pharmaceutical companies to expand the reach and commercialization of its technologies and products. These collaborations often include milestone payments and royalties, providing additional revenue streams. The company may also engage in research and development collaborations, which can contribute to its earnings by advancing new therapeutic solutions.

MannKind Financial Statement Overview

Summary

MannKind has exhibited strong revenue growth and improved profitability with a significant increase in revenue and net profit margin. However, the balance sheet shows high leverage and negative equity, which are concerning financial risks. Cash flow management is positive, but overall, the company needs to address its balance sheet weaknesses.

Income Statement

MannKind has shown a remarkable revenue growth trajectory, increasing from $65.1M in 2020 to $297.6M in TTM (Trailing-Twelve-Months). The gross profit margin is strong at 74.6% for the TTM, indicating effective cost management. The net profit margin improved significantly to 10.1% in TTM, highlighting the company's transition to profitability. However, EBIT and EBITDA margins have room for improvement at 26.1% and 25.7% respectively.

Balance Sheet

The company shows a high debt-to-equity ratio due to negative stockholders' equity. This presents a financial risk, although net debt has improved to a negative $62K in TTM, suggesting cash reserves exceed debt. The return on equity is difficult to interpret with negative equity, but the equity ratio is concerning at -14.3% in TTM, indicating financial instability.

Cash Flow

Positive free cash flow of $21.7M in TTM is an encouraging sign of operational efficiency. The operating cash flow to net income ratio is 0.97, showing close alignment between cash flow and reported profits. Although free cash flow growth has fluctuated, the recent trend is positive, suggesting improved cash management.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
297.60M	285.50M	198.96M	99.77M	75.44M	65.14M
	Gross Profit
222.07M	208.90M	136.19M	42.27M	36.59M	40.50M
	EBIT
77.63M	72.59M	8.68M	-68.92M	-53.48M	-24.79M
	EBITDA
76.37M	77.47M	15.13M	-56.34M	-61.09M	-45.01M
	Net Income Common Stockholders
30.12M	27.59M	-11.94M	-112.17M	-91.79M	-57.24M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
181.54M	197.26M	295.10M	170.85M	204.12M	67.00M
	Total Assets
410.14M	393.84M	475.20M	295.28M	321.16M	108.61M
	Total Debt
47.25M	47.70M	382.38M	382.91M	382.74M	123.44M
	Net Debt
-62.00K	1.36M	143.90M	313.14M	258.56M	56.43M
	Total Liabilities
468.76M	472.66M	721.37M	545.82M	530.51M	289.03M
	Stockholders Equity
-58.62M	-78.82M	-246.17M	-250.54M	-209.35M	-180.42M
Cash Flow		Free Cash Flow
21.71M	32.82M	-8.35M	-88.27M	-73.17M	-32.91M
	Operating Cash Flow
29.33M	42.51M	34.09M	-80.68M	-61.71M	-28.13M
	Investing Cash Flow
-42.25M	-96.65M	-1.99M	4.87M	-151.54M	15.22M
	Financing Cash Flow
-132.30M	-137.27M	136.61M	21.41M	270.27M	49.85M

MannKind Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.83
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MNKD, the sentiment is Negative. The current price of 3.83 is below the 20-day moving average (MA) of 4.26, below the 50-day MA of 4.55, and below the 200-day MA of 5.77, indicating a bearish trend. The MACD of -0.14 indicates Positive momentum. The RSI at 33.09 is Neutral, neither overbought nor oversold. The STOCH value of 26.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MNKD.

MannKind Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BCRX	66 Neutral	$2.30B	―	18.68%	―	41.67%	75.79%
MNKD	63 Neutral	$1.19B	38.92	-35.00%	―	32.50%	236.33%
KYMR	61 Neutral	$3.16B	―	-32.17%	―	-25.85%	-23.89%
AGIO	61 Neutral	$2.00B	3.05	60.26%	―	25.96%	―
ARWR	55 Neutral	$2.34B	―	-24.67%	―	1436.97%	68.03%
Sector *	54 Neutral	$5.38B	3.40	-45.06%	3.28%	16.75%	-0.02%
BEAM	49 Neutral	$1.82B	―	-38.04%	―	-82.38%	-164.76%

MannKind Corporate Events

MannKind Stockholders Approve Board and Compensation

At the 2025 Annual Meeting of Stockholders held on May 14, 2025, MannKind‘s stockholders elected nine board members to serve until the next annual meeting. Additionally, stockholders approved the executive compensation package and ratified Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.

The most recent analyst rating on (MNKD) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on MannKind stock, see the MNKD Stock Forecast page.

MannKind Announces CMO Transition and Separation Agreement

On May 9, 2025, MannKind Corporation and its Chief Medical Officer, Burkhard Blank, agreed on his transition from the role of executive officer, with a formal separation agreement established on May 14, 2025. Mr. Blank will continue as a non-executive employee until August 1, 2025, and will receive salary continuation, a special bonus, and COBRA premium reimbursements post-separation, while his equity awards remain eligible for vesting during his employment.

The most recent analyst rating on (MNKD) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on MannKind stock, see the MNKD Stock Forecast page.