(MNKD) MannKind - Overview

Sector: Healthcare | Industry: Biotechnology | Exchange: NASDAQ (USA) | Market Cap: 791m USD | Total Return: -40.8% in 12m

Inhaled Insulin, Wearable Insulin, Pulmonary Hypertension, Fluid Overload
Total Rating 34
Safety 23
Buy Signal 0.04
Biotechnology
Industry Rotation: -2.5
Market Cap: 791M
Avg Turnover: 11.7M USD
ATR: 6.23%
Peers RS (IBD): 0.8
Risk 5d forecast
Volatility51.2%
Rel. Tail Risk-12.1%
Reward TTM
Sharpe Ratio-0.50
Alpha-73.98
Character TTM
Beta0.971
Beta Downside1.744
Drawdowns 3y
Max DD69.35%
CAGR/Max DD-0.20
EPS (Earnings per Share) EPS (Earnings per Share) of MNKD over the last years for every Quarter: "2021-03": -0.05, "2021-06": -0.05, "2021-09": -0.02, "2021-12": -0.11, "2022-03": -0.1, "2022-06": -0.11, "2022-09": -0.06, "2022-12": -0.07, "2023-03": -0.04, "2023-06": -0.02, "2023-09": 0.01, "2023-12": 0.0043, "2024-03": 0.04, "2024-06": -0.01, "2024-09": 0.05, "2024-12": 0.0255, "2025-03": 0.04, "2025-06": 0.05, "2025-09": 0.07, "2025-12": 0.01,
EPS CAGR: 78.90%
EPS Trend: 88.3%
Last SUE: -0.48
Qual. Beats: 0
Revenue Revenue of MNKD over the last years for every Quarter: 2021-03: 17.436, 2021-06: 23.28, 2021-09: 22.211, 2021-12: 12.515, 2022-03: 11.992, 2022-06: 18.894, 2022-09: 32.825, 2022-12: 36.059, 2023-03: 40.626, 2023-06: 48.611, 2023-09: 51.253, 2023-12: 58.472, 2024-03: 66.263, 2024-06: 72.386, 2024-09: 70.079, 2024-12: 76.776, 2025-03: 78.354, 2025-06: 76.527, 2025-09: 82.13, 2025-12: 111.955,
Rev. CAGR: 81.43%
Rev. Trend: 87.9%
Last SUE: 2.62
Qual. Beats: 1

Warnings

P/E ratio 128.0

High Debt/EBITDA (7.7) with thin interest coverage (1.0)

Beneish M-Score 0.92 > -1.5 - likely earnings manipulation

Altman Z'' -15.00 < 1.0 - financial distress zone

Volatile

Tailwinds

No distinct edge detected

Description: MNKD MannKind

MannKind Corporation is a biopharmaceutical company focused on chronic disease treatment. The company develops and commercializes therapies for conditions including diabetes, pulmonary hypertension, and fluid overload in heart failure and chronic kidney disease.

Its product portfolio includes Afrezza, an inhaled insulin, and the V-Go wearable insulin delivery device. These products target the diabetes care market, a sector with increasing demand for novel insulin delivery systems. MannKind also offers Tyvaso DPI for pulmonary hypertension and FUROSCIX for fluid overload.

The company has a pipeline of treatments for orphan lung diseases, such as MNKD-201 and MNKD-701. Biopharmaceutical companies often rely on strategic collaborations for product development and commercialization, as evidenced by MannKinds agreements with United Therapeutics Corporation and Thirona. Further research on ValueRay can provide deeper insights into MannKinds market position and financial performance.

Headlines to Watch Out For
  • Afrezza sales growth impacts diabetes market share
  • Tyvaso DPI collaboration with United Therapeutics drives revenue
  • V-Go insulin device adoption expands diabetes treatment
  • Pipeline development for orphan lung diseases creates future value
  • Regulatory approvals for new indications affect market access
Piotroski VR‑10 (Strict) 2.5
Net Income: 5.86m TTM > 0 and > 6% of Revenue
FCF/TA: 0.02 > 0.02 and ΔFCF/TA -6.62 > 1.0
NWC/Revenue: 34.54% < 20% (prev 65.31%; Δ -30.77% < -1%)
CFO/TA 0.02 > 3% & CFO 18.1m > Net Income 5.86m
Net Debt (398.5m) to EBITDA (52.0m): 7.66 < 3
Current Ratio: 1.70 > 1.5 & < 3
Outstanding Shares: last quarter (314.1m) vs 12m ago 8.08% < -2%
Gross Margin: 76.39% > 18% (prev 0.73%; Δ 7.57k% > 0.5%)
Asset Turnover: 58.85% > 50% (prev 72.49%; Δ -13.65% > 0%)
Interest Coverage Ratio: 1.04 > 6 (EBITDA TTM 52.0m / Interest Expense TTM 37.3m)
Altman Z'' -15.00
A: 0.15 (Total Current Assets 291.6m - Total Current Liabilities 171.0m) / Total Assets 792.2m
B: -4.03 (Retained Earnings -3.20b / Total Assets 792.2m)
C: 0.07 (EBIT TTM 38.7m / Avg Total Assets 593.0m)
D: -3.79 (Book Value of Equity -3.19b / Total Liabilities 843.2m)
Altman-Z'' Score: -15.69 = D
Beneish M 0.92
DSRI: 2.66 (Receivables 38.4m/11.8m, Revenue 349.0m/285.5m)
GMI: 0.96 (GM 76.39% / 73.17%)
AQI: 5.18 (AQ_t 0.53 / AQ_t-1 0.10)
SGI: 1.22 (Revenue 349.0m / 285.5m)
TATA: -0.02 (NI 5.86m - CFO 18.1m) / TA 792.2m)
Beneish M-Score: 0.92 (Cap -4..+1) = D
What is the price of MNKD shares? As of April 15, 2026, the stock is trading at USD 2.74 with a total of 3,475,343 shares traded.
Over the past week, the price has changed by +6.61%, over one month by -1.08%, over three months by -51.16% and over the past year by -40.82%.
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 7.4 169.7%
MannKind (MNKD) - Fundamental Data Overview as of 11 April 2026
P/E Trailing = 128.0
P/E Forward = 263.1579
P/S = 2.2653
P/B = 187.8507
P/EG = 4.3866
Revenue TTM = 349.0m USD
EBIT TTM = 38.7m USD
EBITDA TTM = 52.0m USD
Long Term Debt = 318.4m USD (from longTermDebt, last quarter)
Short Term Debt = 49.2m USD (from shortTermDebt, last quarter)
Debt = 473.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 398.5m USD (from netDebt column, last quarter)
Enterprise Value = 1.09b USD (790.5m + Debt 473.4m - CCE 171.3m)
Interest Coverage Ratio = 1.04 (Ebit TTM 38.7m / Interest Expense TTM 37.3m)
EV/FCF = 80.72x (Enterprise Value 1.09b / FCF TTM 13.5m)
FCF Yield = 1.24% (FCF TTM 13.5m / Enterprise Value 1.09b)
FCF Margin = 3.88% (FCF TTM 13.5m / Revenue TTM 349.0m)
Net Margin = 1.68% (Net Income TTM 5.86m / Revenue TTM 349.0m)
Gross Margin = 76.39% ((Revenue TTM 349.0m - Cost of Revenue TTM 82.4m) / Revenue TTM)
Gross Margin QoQ = 78.45% (prev 75.40%)
Tobins Q-Ratio = 1.38 (Enterprise Value 1.09b / Total Assets 792.2m)
Interest Expense / Debt = 2.78% (Interest Expense 13.1m / Debt 473.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = 30.6m (EBIT 38.7m * (1 - 21.00%))
Current Ratio = 1.70 (Total Current Assets 291.6m / Total Current Liabilities 171.0m)
 Debt / Equity = -9.28 (negative equity) (Debt 473.4m / totalStockholderEquity, last quarter -51.0m)
 Debt / EBITDA = 7.66 (Net Debt 398.5m / EBITDA 52.0m)
Debt / FCF = 29.44 (Net Debt 398.5m / FCF TTM 13.5m)
Total Stockholder Equity = -52.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.99% (Net Income 5.86m / Total Assets 792.2m)
 RoE = -11.21% (negative equity) (Net Income TTM 5.86m / Total Stockholder Equity -52.3m)
 RoCE = 14.55% (EBIT 38.7m / Capital Employed (Equity -52.3m + L.T.Debt 318.4m))
RoIC = 37.37% (NOPAT 30.6m / Invested Capital 81.8m)
WACC = 6.70% (E(790.5m)/V(1.26b) * Re(9.40%) + D(473.4m)/V(1.26b) * Rd(2.78%) * (1-Tc(0.21)))
Discount Rate = 9.40% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -1.52%
[DCF] Terminal Value 77.06% ; FCFF base≈21.2m ; Y1≈14.0m ; Y5≈6.38m
 [DCF] Fair Price = N/A (negative equity: EV 166.6m - Net Debt 398.5m = -231.9m; debt exceeds intrinsic value)
 EPS Correlation: 88.27 | EPS CAGR: 78.90% | SUE: -0.48 | # QB: 0
Revenue Correlation: 87.90 | Revenue CAGR: 81.43% | SUE: 2.62 | # QB: 1
EPS next Quarter (2026-06-30): EPS=0.02 | Chg7d=-0.033 | Chg30d=-0.033 | Revisions Net=+0 | Analysts=3
EPS current Year (2026-12-31): EPS=0.10 | Chg7d=-0.050 | Chg30d=-0.050 | Revisions Net=-1 | Growth EPS=-49.1% | Growth Revenue=+33.1%
EPS next Year (2027-12-31): EPS=0.23 | Chg7d=-0.053 | Chg30d=-0.053 | Revisions Net=+1 | Growth EPS=+135.3% | Growth Revenue=+13.6%
[Analyst] Revisions Ratio: -1.00 (0 Up / 1 Down within 30d for Current Year)
[Growth] Implied Growth Rate = 8.6% (Discount Rate 9.4% - Earnings Yield 0.8%)
[Growth] Growth Spread = +38.3% (Analyst 47.0% - Implied 8.6%)
External Resources
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