MannKind (MNKD) AI Stock Analysis

• Market Cap: $1.24B
• Dividend Yield: N/A
• Average Volume (3M): 3.05M
• Price to Earnings (P/E): 40.9
• Beta (1Y): 0.68
• Revenue Growth: 32.50%
• EPS Growth: 236.33%
• Country: US
• Employees: 403
• Sector: Healthcare
• Sector Strength: 37
• Industry: Biotechnology
• EPS (TTM): 0.04
• Shares Outstanding: 303,932,860
• 10 Day Avg. Volume: 2,475,725
• 30 Day Avg. Volume: 3,050,053
• PEG Ratio: N/A
• Price to Book (P/B): -19.98
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 54.01
• Enterprise Value/Market Cap: 0.94
• Enterprise Value/Revenue: 1.06
• Enterprise Value/Gross Profit: 5.27
• Enterprise Value/Ebitda: 4.54
• 1Y Price Target: $8.80
• Price Target Upside: 115.69% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 60 Neutral
• Price Target: $4.00 ▼(-1.96%Downside)

MannKind's strong financial performance and optimistic earnings call are somewhat offset by technical analysis signals and high valuation. The company's revenue growth and strategic partnerships are promising, but its balance sheet risks and valuation concerns limit the overall score.

Positive Factors

Market Adoption

The dissemination of study data should help to raise patient and physician awareness to drive higher market adoption that Afrezza deserves.

Revenue Growth

MannKind is in the early stages of a significant revenue inflection driven by the Afrezza pediatric indication, potential label expansion on Tyvaso DPI and the company's pipeline.

Royalties Upside

MannKind Corporation will be eligible for royalties from Tyvaso DPI revenue in IPF, which is considered as an upside potential while awaiting data from the TETON2 study.

Negative Factors

Competitive Pressure

The recent approval of Yutrepia adds competition to the PAH and PH-ILD markets, posing a modest headwind to the Tyvaso DPI royalty.

Market Concerns

The biggest overhang on MNKD shares is likely overdone, driven largely by the uncertainty around outlook for its Tyvaso DPI royalty, given competitor full approvals, and data readouts.

Uncertainty

There is risk and uncertainty on the Tyvaso DPI royalty stream due to potential competition and skepticism about the TETON readout in IPF.

MannKind Business Overview & Revenue Model

Company Description

MannKind Corporation is a biopharmaceutical company that operates primarily in the healthcare sector, focusing on the discovery, development, and commercialization of therapeutic products for patients with diseases such as diabetes. The company's core product is Afrezza, an inhalable insulin used to help manage blood sugar levels in adults with diabetes. MannKind is committed to harnessing its proprietary technologies to create therapies that address unmet medical needs.

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

MannKind Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 4.08
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MNKD, the sentiment is Neutral. The current price of 4.08 is above the 20-day moving average (MA) of 3.80, above the 50-day MA of 4.01, and below the 200-day MA of 5.42, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 56.73 is Neutral, neither overbought nor oversold. The STOCH value of 80.76 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MNKD.

MannKind Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AGIO	67 Neutral	$2.30B	3.51	60.26%	―	25.96%	―
Sector *	65 Neutral	¥355.44B	11.10	-2.99%	2.49%	11.76%	-10.16%
KYMR	60 Neutral	$3.22B	―	-32.17%	―	-25.85%	-23.89%
MNKD	60 Neutral	$1.24B	40.92	-35.00%	―	32.50%	236.33%
BEAM	56 Neutral	$2.11B	―	-38.04%	―	-82.38%	-164.76%
BCRX	48 Neutral	$1.79B	―	18.68%	―	41.67%	75.79%
ARWR	47 Neutral	$2.25B	―	-24.67%	―	1436.97%	68.03%

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.