MannKind (MNKD) AI Stock Analysis

• Market Cap: $1.14B
• Dividend Yield: N/A
• Average Volume (3M): 2.85M
• Price to Earnings (P/E): 33.9
• Beta (1Y): 0.73
• Revenue Growth: 21.48%
• EPS Growth: 162.30%
• Country: US
• Employees: 403
• Sector: Healthcare
• Sector Strength: 43
• Industry: Biotechnology
• EPS (TTM): 0.00
• Shares Outstanding: 306,828,340
• 10 Day Avg. Volume: 3,721,434
• 30 Day Avg. Volume: 2,845,606
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.00
• Enterprise Value/Revenue: 3.83
• Enterprise Value/Gross Profit: 5.13
• Enterprise Value/Ebitda: 14.91
• 1Y Price Target: $8.56
• Price Target Upside: 131.35% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8

• Rating: 61 Neutral
• Price Target: $3.50 ▼(-5.41% Downside)

MannKind's overall stock score reflects strong financial performance and positive earnings call sentiment, offset by a weak balance sheet and bearish technical indicators. The company's strategic growth plans and product pipeline advancements are promising, but financial risks and valuation concerns weigh on the score.

Positive Factors

Market Share Expansion

The time to approval for TPIP is expected to allow Tyvaso DPI to continue gaining market share and moving into new indications.

Pipeline Development

The Ph3 study of MNKD-101 is nearing target patient enrollment for the interim analysis ahead of schedule, which suggests strong progress in their clinical trials.

Revenue Growth

Afrezza's strong growth in net revenue reflects the initial positive effect from increased promotional efforts, with management expecting the trend to continue.

Negative Factors

Financial Concerns

Stock weakness may be due to investor concerns related to a financing agreement for up to $500M, which could be perceived as potential dilution or financial strain.

Royalty Revenue

Tyvaso DPI royalties reflect Q/Q deceleration in Tyvaso growth as reported, with a decrease from +11% to 4%.

Study Skepticism

There is skepticism about the likelihood of success for TETON given the primarily vasodilative mechanism and different patient population compared to previous studies.

MannKind Business Overview & Revenue Model

Company Description

MannKind Corporation (MNKD) is a biopharmaceutical company focused on the development and commercialization of innovative therapies for diabetes and other endocrine-related conditions. The company is primarily known for its flagship product, Afrezza, an inhaled insulin that offers a rapid-acting alternative to traditional subcutaneous insulin injections. MannKind also explores other therapeutic areas, leveraging its proprietary Technosphere technology platform to deliver medications via inhalation.

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 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: Negative
• Last Price: 3.70
• 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 3.7 is below the 20-day moving average (MA) of 3.79, below the 50-day MA of 3.83, and below the 200-day MA of 5.21, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 47.65 is Neutral, neither overbought nor oversold. The STOCH value of 45.82 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
MNKD	61 Neutral	$1.14B	33.85	-35.00%	―	21.48%	162.30%
AGIO	58 Neutral	$2.13B	3.32	64.05%	―	30.57%	―
KYMR	53 Neutral	$2.85B	―	-33.26%	―	-49.51%	-44.09%
Sector *	51 Neutral	$7.44B	-0.20	-46.00%	2.27%	22.80%	-2.27%
BCRX	50 Neutral	$1.75B	―	18.68%	―	45.85%	76.36%
ARWR	47 Neutral	$2.46B	―	-34.80%	―	2816.21%	73.33%
BEAM	41 Neutral	$1.71B	―	-41.94%	―	-82.90%	-155.64%

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.