Analysts’ Recent Ratings Changes for Mallinckrodt (MNK)

Several analysts have recently updated their ratings and price targets for Mallinckrodt (NYSE: MNK):

  • 1/9/2018 – Mallinckrodt was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Mallinckrodt is selling its hemostasis products for Baxter. The company aims to focus better on its specialty pharmaceutical business after having sold its Nuclear Imaging business.Mallinckrodt is facing challenging conditions as lead drug Acthar sales declined on volume while weaknesses in the generics segment persist. Acthar declined as specialty drugs face payer environment and the decline is expected to continue in the fourth quarter as well. The company's generic segment continues to face weakness as various product categories are witnessing stiff competition, which is hurting both their volumes and prices. Shares of the company have underperformed the industry in the last six months. A U.S. District Court recently invalidated 11 patents covering its second-largest product Inomax.  As  a result, Mallinckrodt is looking to diversify its portfolio with the recently announced Sucampo acquisition and counter the decline in existing drugs.”
  • 1/9/2018 – Mallinckrodt had its “neutral” rating reaffirmed by analysts at Mizuho. They now have a $21.00 price target on the stock, down previously from $22.00.
  • 1/8/2018 – Mallinckrodt was given a new $42.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock. They wrote, “Mallinckrodt announced today that it is selling certain hemostasis products to Baxter (BAX, Not Covered), including Recothrom and PreveLeak, for ~ $185MM, with $153MM upfront and the rest in potential milestones. The company will also discontinue marketing of Raplixa and evaluate strategic options for the product.””
  • 1/7/2018 – Mallinckrodt was given a new $24.00 price target on by analysts at Canaccord Genuity. They now have a “hold” rating on the stock.
  • 1/2/2018 – Mallinckrodt is now covered by analysts at Leerink Swann. They set a “market perform” rating and a $26.00 price target on the stock.
  • 1/1/2018 – Mallinckrodt had its “hold” rating reaffirmed by analysts at Wells Fargo & Co.
  • 1/1/2018 – Mallinckrodt had its “hold” rating reaffirmed by analysts at Goldman Sachs Group Inc.
  • 1/1/2018 – Mallinckrodt was given a new $24.00 price target on by analysts at Canaccord Genuity. They now have a “hold” rating on the stock.
  • 1/1/2018 – Mallinckrodt was given a new $42.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock.
  • 12/31/2017 – Mallinckrodt was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 12/26/2017 – Mallinckrodt was given a new $42.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock.
  • 12/26/2017 – Mallinckrodt had its “hold” rating reaffirmed by analysts at Goldman Sachs Group Inc.
  • 12/26/2017 – Mallinckrodt was given a new $24.00 price target on by analysts at Canaccord Genuity. They now have a “hold” rating on the stock.
  • 12/26/2017 – Mallinckrodt had its “hold” rating reaffirmed by analysts at Wells Fargo & Co.
  • 12/12/2017 – Mallinckrodt was given a new $23.00 price target on by analysts at Barclays PLC. They now have a “hold” rating on the stock.
  • 11/26/2017 – Mallinckrodt was downgraded by analysts at UBS Group AG from a “buy” rating to a “neutral” rating. They now have a $24.00 price target on the stock, down previously from $70.00.
  • 11/22/2017 – Mallinckrodt had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
  • 11/14/2017 – Mallinckrodt was given a new $24.00 price target on by analysts at Canaccord Genuity. They now have a “hold” rating on the stock.
  • 11/13/2017 – Mallinckrodt was downgraded by analysts at UBS Group AG from a “buy” rating to a “neutral” rating. They now have a $24.00 price target on the stock.

Mallinckrodt PLC (MNK) traded up $0.51 on Thursday, hitting $22.90. The stock had a trading volume of 1,807,163 shares, compared to its average volume of 2,543,657. Mallinckrodt PLC has a 12 month low of $19.00 and a 12 month high of $55.32. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $2,180.00, a PE ratio of -1,145.00, a price-to-earnings-growth ratio of 0.43 and a beta of 1.30.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.17. Mallinckrodt had a return on equity of 14.79% and a net margin of 11.43%. The company had revenue of $793.90 million during the quarter, compared to analysts’ expectations of $808.93 million. During the same period in the prior year, the business earned $2.04 earnings per share. Mallinckrodt’s revenue for the quarter was down 10.5% compared to the same quarter last year. equities research analysts anticipate that Mallinckrodt PLC will post 7.21 EPS for the current fiscal year.

In other news, Director Dr Kneeland Youngblood bought 4,560 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was acquired at an average cost of $21.94 per share, for a total transaction of $100,046.40. Following the completion of the purchase, the director now owns 19,789 shares of the company’s stock, valued at approximately $434,170.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael-Bryant Hicks bought 7,900 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average price of $20.80 per share, with a total value of $164,320.00. The disclosure for this purchase can be found here. Insiders purchased 30,460 shares of company stock valued at $659,486 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.

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