MNKD Stock Analysis: MannKind | NASDAQ

Inhaled Insulin, Insulin Delivery, Hypertension Therapy, Furosemide Injection

Total Rating 16

Safety 31

Buy Signal -1.31

Biotechnology
Industry Rotation: -2.7

Market Cap: 1.31B
Avg Turnover: 12.6M

Risk 3d forecast

Volatility50.6%

VaR 5^th Pctl7.90%

VaR vs Median-5.34%

Reward TTM

Sharpe Ratio-0.26

Rel. Str. IBD32.4

Rel. Str. Peer Group11.3

Character TTM

Beta1.043

Beta Downside0.847

Hurst Exponent0.494

Drawdowns 3y

Max DD69.35%

CAGR/Max DD-0.07

CAGR/Mean DD-0.18

EPS (Earnings per Share)

Last SUE: -1.96
Qual. Beats: -3

Revenue

Rev. CAGR: 30.14%
Rev. Trend: 98.1%

Last SUE: 0.07
Qual. Beats: 0

Warnings

Negative Equity With Losses

High Debt/EBITDA With Thin Interest Coverage

High Debt While Negative Cash Flow

Interest Coverage Ratio Critical

Beneish M-Score Likely Earnings Manipulation

Altman Z'' In Financial Distress Zone

Fakeout

Below Avwap Earnings

Below Sma 200d

Tailwinds

No distinct edge detected

Seasonality 11.6 years of data

Jan +1.3% 2

Feb -7.9% 11

Mar -17.1% 21

Apr -6.2% 31

May +13.9% 22

Jun +7.6% 19

Jul -0.9% 5

Aug +2.7% 17

Sep -2.0% 5

Oct +4.1% 30

Nov -2.2% 2

Dec -1.2% 0

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: MNKD MannKind

MannKind Corporation is a U.S.-based biopharmaceutical company headquartered in Danbury, Connecticut, that develops and commercializes therapies for serious chronic conditions with high unmet medical need. Its commercial portfolio spans endocrine (diabetes) and cardiopulmonary diseases, anchored by inhaled and injectable drug-device combination products.

The companys approved products include Afrezza, an inhaled insulin powder for glycemic control in adults with diabetes; V-Go, a wearable device for continuous subcutaneous insulin delivery; Tyvaso DPI, an inhaled dry-powder formulation for pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease (marketed under license from United Therapeutics Corporation); and FUROSCIX, a furosemide injection for fluid overload in chronic heart failure and chronic kidney disease.

MannKinds pipeline targets orphan lung diseases, including MNKD-201, a dry-powder formulation of nintedanib for idiopathic pulmonary fibrosis, and MNKD-701. The company maintains a collaboration and license agreement with United Therapeutics for Tyvaso DPI and a separate agreement with Thirona to evaluate a therapeutic candidate for pulmonary fibrosis. The company was incorporated in 1991 and is listed on NASDAQ under the ticker MNKD.

As a small-cap biotechnology firm, MannKind operates within a sector characterized by long development timelines, reliance on FDA regulatory approvals, and revenue concentration risk in products with limited or no patent protection. Drug-device combination products like Afrezza and V-Go carry additional manufacturing and supply-chain complexity, and partnerships with larger pharmaceutical companies are commonly used to extend commercial reach in specialized therapeutic areas such as orphan pulmonary diseases.

Headlines to Watch Out For

Tyvaso DPI royalty revenue fuels quarterly growth
FUROSCIX launch drives heart failure care revenue
Afrezza faces competition in inhaled diabetes market

Piotroski VR-10 (Strict) 2.5

Net Income: -43.6m TTM > 0 and > 6% of Revenue
FCF/TA: -0.03 > 0.02 and ΔFCF/TA -9.53 > 1.0
NWC/Revenue: 26.12% < 20% (prev 55.41%; Δ -29.29% < -1%)
CFO/TA -0.01 > 3% & CFO -8.49m > Net Income -43.6m
Net Debt (231.5m) to EBITDA (30.7m): 7.53 < 3
Current Ratio: 1.72 > 1.5 & < 3
Outstanding Shares: last quarter (309.2m) vs 12m ago -0.74% < -2%
Gross Margin: 75.69% > 18% (prev 74.91%; Δ 0.78% > 0.5%)
Asset Turnover: 68.82% > 50% (prev 73.29%; Δ -4.47% > 0%)
Interest Coverage Ratio: 0.22 > 6 (EBIT TTM 9.95m / Interest Expense TTM 44.8m)

Altman Z'' -13.44

A: 0.14 (Total Current Assets 245.7m - Total Current Liabilities 142.9m) / Total Assets 732.3m
B: -4.41 (Retained Earnings -3.23b / Total Assets 732.3m)
C: 0.02 (EBIT TTM 9.95m / Avg Total Assets 572.0m)
D: -0.08 (Book Value of Equity -67.2m / Total Liabilities 799.5m)
Altman-Z'' = -13.44 = D

Beneish M -0.54

DSRI: 1.22 (Receivables 43.2m/27.1m, Revenue 393.6m/301.7m)
GMI: 0.99 (GM 74.91% / 75.69%)
AQI: 4.54 (AQ_t 0.55 / AQ_t-1 0.12)
SGI: 1.30 (Revenue 393.6m / 301.7m)
TATA: -0.05 (NI -43.6m - CFO -8.49m) / TA 732.3m)
Beneish M = -0.54 (Cap -4..+1) = D

What is the price of MNKD shares?

As of September 11, 2026, the stock is trading at USD 3.79 with a total of 3,209,222 shares traded. Over the past week, the price has changed by -1.01%, over one month by +0.25%, over three months by +10.36% and over the past year by -28.49%.

Current recommended Stop Loss: 3.50 (which is 7.7% or 1.5 ATR below the current price).

Is MNKD a buy, sell or hold?

MannKind has received a consensus analysts rating of 4.86. Therefore, it is recommended to buy MNKD.

StrongBuy: 6
Buy: 1
Hold: 0
Sell: 0
StrongSell: 0

What are the forecasts/targets for the MNKD price?

Analysts Target Price	8	110.3%

MannKind (MNKD) - Fundamental Data Overview as of 07 September 2026

Market Cap USD = 1.31b (1.31b USD * 1.0 USD.USD)
P/E Forward = 30.4878
P/S = 3.3165
P/B = 187.8507
P/EG = 4.3866
Revenue TTM = 393.6m USD
EBIT TTM = 9.95m USD
EBITDA TTM = 30.7m USD
Long Term Debt = 319.1m USD (from longTermDebt, last quarter)
Short Term Debt = 2.08m USD (from shortTermDebt, last quarter)
Debt = 342.6m USD (from shortLongTermDebtTotal, last quarter) + Leases 11.8m
Net Debt = 231.5m USD (calculated: Debt 342.6m - CCE 111.1m)
Enterprise Value = 1.54b USD (1.31b + Debt 342.6m - CCE 111.1m)
Interest Coverage Ratio = 0.22 (Ebit TTM 9.95m / Interest Expense TTM 44.8m)
EV/FCF = -82.77x (Enterprise Value 1.54b / FCF TTM -18.6m)
FCF Yield = -1.21% (FCF TTM -18.6m / Enterprise Value 1.54b)
FCF Margin = -4.72% (FCF TTM -18.6m / Revenue TTM 393.6m)
Net Margin = -11.08% (Net Income TTM -43.6m / Revenue TTM 393.6m)
Gross Margin = 75.69% ((Revenue TTM 393.6m - Cost of Revenue TTM 95.7m) / Revenue TTM)
Gross Margin QoQ = 72.99% (prev 75.78%)
Tobins Q-Ratio = 2.10 (Enterprise Value 1.54b / Total Assets 732.3m)
Interest Expense / Debt = 13.08% (Interest Expense 44.8m / Debt 342.6m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 7.86m (EBIT 9.95m * (1 - 21.00%))
Current Ratio = 1.72 (Total Current Assets 245.7m / Total Current Liabilities 142.9m)
Debt / Equity = -5.10 (negative equity) (Debt 342.6m / totalStockholderEquity, last quarter -67.2m)
Debt / EBITDA = 7.53 (Net Debt 231.5m / EBITDA 30.7m)
Debt / FCF = -12.47 (negative FCF - burning cash) (Net Debt 231.5m / FCF TTM -18.6m)
Total Stockholder Equity = -55.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -7.62% (Net Income -43.6m / Total Assets 732.3m)
RoE = 78.60% (negative equity) (Net Income TTM -43.6m / Total Stockholder Equity -55.5m)
RoCE = 3.77% (EBIT 9.95m / Capital Employed (Equity -55.5m + L.T.Debt 319.1m))
RoIC = 1.37% (NOPAT 7.86m / Invested Capital 571.8m)
WACC = 9.83% (E(1.31b)/V(1.65b) * Re(9.70%) + D(342.6m)/V(1.65b) * Rd(13.08%) * (1-Tc(0.21)))
Discount Rate = 9.70% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 33.98 | Cagr: -2.16%
[DCF] Fair Price = unknown (Cash Flow -18.6m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.96 | # QB: -3
Revenue Correlation: 98.06 | Revenue CAGR: 30.14% | SUE: 0.07 | # QB: 0
EPS current Quarter (2026-09-30): EPS=-0.01 | Chg30d=N/A | Revisions=+0% | Analysts=4
EPS current Year (2026-12-31): EPS=0.03 | Chg30d=-64.71% | Revisions=+0% | GrowthEPS=-84.2% | GrowthRev=+27.1%
EPS next Year (2027-12-31): EPS=0.13 | Chg30d=-33.77% | Revisions=-25% | GrowthEPS=+325.0% | GrowthRev=+13.7%
[Analyst] Revisions Ratio: -25% (up=0, down=1)