MannKind Corporation (MNKD) AI Stock Analysis

MannKind Corporation is a biopharmaceutical firm headquartered in Westlake Village, California, focused on developing and commercializing inhaled therapeutics for endocrine disorders and rare lung diseases in the United States. Its primary commercial product is Afrezza, an inhaled insulin that provides a non-invasive alternative to injections for adults with diabetes. The company also markets Thyquidity for hypothyroidism and collaborates with healthcare professionals to broaden treatment options. MannKind advances its pipeline through strategic alliances, including a collaboration agreement with United Therapeutics Corporation and an agreement with NRx Pharmaceuticals to develop a dry powder formulation of ZYESAMI (aviptadil).

MannKind delivered a 5-year revenue CAGR of 39.9% from FY2020 to FY2025, with revenue climbing from $75.4M in FY2021 to $349.0M in FY2025. Gross margin increased from 48.5% in FY2021 to 82.5% in FY2025. After recording net losses of -$80.9M in FY2021 and -$87.4M in FY2022, net income turned positive at $27.6M in FY2024 and $5.9M in FY2025. For the trailing twelve months ended June 30, 2026, revenue reached $393.6M with an operating margin of -0.8% and EPS of -$0.14. In the latest quarter, revenue grew 42.9% year-over-year, while quarterly earnings declined 34.9%.

As of June 30, 2026, MannKind held $111.1M in cash and short-term investments against total debt of $330.8M, resulting in net debt of $219.7M. The company had negative shareholders' equity of -$67.2M and total assets of $732.3M, with a current ratio of 1.72. Operating cash flow was $18.3M and free cash flow was $13.7M in FY2025. Capital expenditures totaled $4.6M, while share repurchases were $3.3M during FY2025. Over the past five years, the company's common share count expanded by 23.1%.

With a market capitalization of $977.5M and an enterprise value of $1.43B, MannKind trades at a forward P/E of 25.7x, compared to the median of its US-listed Healthcare peers of 17.3x. Its EV/EBITDA of 70.1x trades at a premium to the peer median of 12.0x, while its price-to-sales multiple of 2.5x is below the peer median of 4.1x. MNKD shares have underperformed the broader market, declining 43.2% over the past year compared to a 16.8% gain for the S&P 500 (SPY), and dropping 40.3% over five years versus an 83.0% gain for SPY.

Wall Street coverage includes 7 Strong Buy ratings, 1 Hold rating, and 0 Sell ratings. The mean price target of $7.84 represents a 158.0% premium over the last closing price of $3.04. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $444.7M and EPS of $0.03, reflecting an expected earnings decline of 84.2%. Analysts forecast FY2027 revenue of $505.7M, an increase of 13.7%, with EPS rising to $0.13. MannKind has exceeded EPS estimates in 1 of the last 4 quarters, and its next earnings date is November 4, 2026.

This page is an AI-written research summary of MannKind Corporation (MNKD). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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