MannKind Corporation
$3.36
-2.0%MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes. It also promotes Thyquidity to adult and pediatric endocrinologists, and other healthcare providers for the treatment of hypothyroidism. The company has a license and collaboration agreement with United Therapeutics Corporation. It also has an agreement with NRx Pharmaceuticals to develop a dry powder formulation of ZYESAMI (aviptadil), a synthetic form of human vasoactive intestinal peptide to help protect cells against inflammatory conditions. MannKind Corporation was incorporated in 1991 and is headquartered in Westlake Village, California.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is elevated (P/E 168.0).
Valuation inputs: P/E 168.0, earnings yield +0.6%, momentum -2.0%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE -11.5%, ROIC +5.8%).
Profitability stack: net margin +1.7%, ROE -11.5%, ROIC +5.8%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceDownside profile is elevated and scenario stress-testing is essential.
Risk factors: liabilities/assets +106.4%, momentum -2.0%, net margin +1.7%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
MannKind Corporation Market vs Earnings Trajectory
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MannKind Corporation Fair Value Envelope
MannKind Corporation Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Acceptable margins but limited operational leverage. Operating expense control is important.
Net Profit Margin
Minimal profitability after all expenses. Limited financial flexibility for reinvestment or shareholder returns.
Effective Tax Rate
Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.
Profitability Insight
High margin compression: Large gap between gross and net margins suggests operational inefficiencies or heavy debt burden. Focus on expense management and deleveraging.
MannKind Corporation Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
CapEx Intensity
Moderate capital requirements typical of many stable businesses. Healthy balance between reinvestment and cash generation.
FCF Growth Trend
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working Capital Impact
Significant working capital drain. Growth may be consuming cash through inventory buildup or receivables extension—monitor closely.
Cash Flow Quality Insight
Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.
MannKind Corporation Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Strong liquidity. The company has adequate resources to meet short-term liabilities.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
MannKind Corporation Street Expectations Map
Wall Street analysts project that MNKD stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 8.50, with estimates ranging from a low of 6.00 to a high of 11.00.
The consensus 1-year price target stands at 8.50, with estimates ranging from a low of 6.00 to a high of 11.00.
Analyst Consensus Analysis
Upside Potential
Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.
Analyst Agreement
Mixed analyst views. Wide target range suggests differing opinions on key value drivers, growth prospects, or risk factors.
Analyst Conviction
Bearish or uncertain outlook. Limited upside or poor consensus suggests challenges ahead or fundamental concerns.
Market Sentiment Insight
High risk, high reward: Substantial upside potential exists, but wide analyst disagreement signals execution risk or unclear catalysts. Thorough due diligence essential before committing capital.
MannKind Corporation Insider Positioning
During the last 12 months, insiders have purchased $309K and sold $4.25M worth of MNKD shares, resulting in $3.94M of net selling activity.
3 Months
100.0K
259.00K
20.0K
65.71K
+193K
+$193K
3-6 Months
0
0.00
134.1K
820.89K
-821K
-$821K
6-9 Months
0
0.00
338.5K
1.87M
-1.9M
-$1.87M
9-12 Months
12.8K
50.00K
384.4K
1.50M
-1.4M
-$1.45M
Top Buyers
Castagna Michael
Director, Officer: Chief Executive Officer
$259K
Tross Stuart A
Officer: Chief People & Workpl Officer
$50K
Top Sellers
Castagna Michael
Director, Officer: Chief Executive Officer
$1.55M
Thomson David
Officer: Evp Genl Counsel & Secretary
$979K
Binder Steven B.
Director
$684K
Tross Stuart A
Officer: Chief People & Workpl Officer
$657K
Singh Sanjay R
Officer: Evp Technical Operations
$249K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $3.94M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Recent Trend (3 Months)
Very strong recent buying momentum. Recent insider purchases significantly outpace sales, suggesting near-term optimism.
Insider Participation
5 insider sellers vs. 2 buyers. Widespread selling across multiple insiders may signal concerns.
No Dividend Yield Data
MNKD has not reported any dividend yield values in the available annual periods.
mnkd Dividend History
Learning Layer
Related Guides
Build conviction on MNKD by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.