Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating reissued by analysts at Piper Jaffray Companies in a report released on Friday. They presently have a $67.00 price target on the stock. Piper Jaffray Companies’ price target suggests a potential upside of 95.51% from the company’s current price.
Several other brokerages have also issued reports on MNK. Deutsche Bank AG set a $56.00 target price on shares of Mallinckrodt PLC and gave the company a “buy” rating in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. set a $70.00 target price on shares of Mallinckrodt PLC and gave the company a “buy” rating in a research note on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $70.00 price target on shares of Mallinckrodt PLC in a research report on Thursday, August 3rd. Raymond James Financial, Inc. cut their price target on shares of Mallinckrodt PLC from $65.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 price target on shares of Mallinckrodt PLC in a research report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. Mallinckrodt PLC presently has an average rating of “Buy” and a consensus price target of $64.15.
Shares of Mallinckrodt PLC (MNK) opened at 34.27 on Friday. Mallinckrodt PLC has a 12-month low of $34.17 and a 12-month high of $77.25. The stock’s 50 day moving average is $38.33 and its 200-day moving average is $43.27. The firm’s market cap is $3.33 billion.
Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.12. The company had revenue of $824.50 million for the quarter, compared to analyst estimates of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 EPS. On average, analysts anticipate that Mallinckrodt PLC will post $7.43 EPS for the current fiscal year.
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In related news, insider Meredith B. Fischer bought 1,280 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were purchased at an average cost of $39.63 per share, for a total transaction of $50,726.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.77% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of MNK. BlackRock Inc. grew its stake in shares of Mallinckrodt PLC by 4,060.7% during the 1st quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock worth $389,307,000 after acquiring an additional 8,524,773 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Mallinckrodt PLC by 1,455.5% during the 1st quarter. Alliancebernstein L.P. now owns 2,900,796 shares of the company’s stock worth $129,288,000 after acquiring an additional 2,714,313 shares in the last quarter. HealthCor Management L.P. bought a new position in shares of Mallinckrodt PLC during the 2nd quarter worth approximately $107,649,000. Janus Henderson Group PLC grew its stake in shares of Mallinckrodt PLC by 6,828.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock worth $62,590,000 after acquiring an additional 1,376,619 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Mallinckrodt PLC by 117.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock worth $86,815,000 after acquiring an additional 1,045,757 shares in the last quarter. 97.48% of the stock is owned by institutional investors.
About Mallinckrodt PLC
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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