A number of research firms have changed their ratings and price targets for Mallinckrodt PLC (NYSE: MNK):

  • 8/25/2017 – Mallinckrodt PLC was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 8/25/2017 – Mallinckrodt PLC had its price target lowered by analysts at Jefferies Group LLC from $70.00 to $60.00. They now have a “buy” rating on the stock.
  • 8/18/2017 – Mallinckrodt PLC was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/9/2017 – Mallinckrodt PLC was given a new $70.00 price target on by analysts at UBS AG. They now have a “buy” rating on the stock.
  • 8/9/2017 – Mallinckrodt PLC was given a new $56.00 price target on by analysts at Deutsche Bank AG. They now have a “buy” rating on the stock.
  • 8/9/2017 – Mallinckrodt PLC had its price target lowered by analysts at Raymond James Financial, Inc. from $65.00 to $58.00. They now have an “outperform” rating on the stock.
  • 8/9/2017 – Mallinckrodt PLC had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $65.00 price target on the stock, down previously from $69.00.
  • 8/9/2017 – Mallinckrodt PLC had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $70.00 price target on the stock, down previously from $73.00.
  • 8/8/2017 – Mallinckrodt PLC was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/8/2017 – Mallinckrodt PLC was given a new $70.00 price target on by analysts at Oppenheimer Holdings, Inc.. They now have a “buy” rating on the stock.
  • 8/8/2017 – Mallinckrodt PLC was given a new $87.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 8/7/2017 – Mallinckrodt PLC was given a new $85.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 8/3/2017 – Mallinckrodt PLC had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $70.00 price target on the stock.
  • 7/28/2017 – Mallinckrodt PLC was given a new $70.00 price target on by analysts at Oppenheimer Holdings, Inc.. They now have a “buy” rating on the stock.
  • 7/28/2017 – Mallinckrodt PLC had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $69.00 price target on the stock.
  • 7/27/2017 – Mallinckrodt PLC was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Mallinckrodt is currently focused on reshaping its product portfolio through strategic acquisitions and non-core asset divestitures. The company sold its Nuclear Imaging business due to lingering challenging conditions for quite some time. The company also sold its Intrathecal Therapy business to focus on its key areas. Acthar sales continue to be strong on the back of increased formulary positions and access for appropriate patients in both the commercial and public environments. The company is working on expanding Acthar's label further. The generic segment continues to face weakness as various product categories are witnessing stiff competition, which is hurting both their volumes and prices. Weakness in shares persist as shares have underperformed the Medical-Generic Drugs industry so far in 2017.”
  • 7/17/2017 – Mallinckrodt PLC was given a new $87.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 7/16/2017 – Mallinckrodt PLC was given a new $85.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 7/11/2017 – Mallinckrodt PLC was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Mallinckrodt is currently focused on reshaping its product portfolio through strategic acquisitions and non-core asset divestitures. The company sold its Nuclear Imaging business due to lingering challenging conditions for quite some time. The company also sold its Intrathecal Therapy business to focus on its key areas. The generic segment continues to face weakness as various product categories are witnessing stiff competition, which is hurting both their volumes and prices. Weakness in shares persist as shares have underperformed the Medical-Generic Drugs industry so far in 2017. On the other hand, Acthar sales continue to be strong on the back of increased formulary positions and access for appropriate patients in both the commercial and public environments. The company is working on expanding Acthar's label further.”
  • 6/29/2017 – Mallinckrodt PLC had its “buy” rating reaffirmed by analysts at UBS AG. They now have a $70.00 price target on the stock, down previously from $100.00. They noted that the move was a valuation call. They noted that the move was a valuation call.

Shares of Mallinckrodt PLC (NYSE:MNK) traded down 0.08% during trading on Monday, reaching $38.98. The company had a trading volume of 1,672,530 shares. The company’s 50 day moving average is $41.61 and its 200-day moving average is $44.76. Mallinckrodt PLC has a 1-year low of $35.04 and a 1-year high of $77.42. The stock’s market capitalization is $3.79 billion.

Mallinckrodt PLC (NYSE:MNK) last announced its quarterly 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. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The company had revenue of $824.50 million for the quarter, compared to the consensus estimate of $829.56 million. During the same quarter in the prior year, the firm earned $2.03 earnings per share. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Mallinckrodt PLC will post $7.45 earnings per share for the current year.

In other news, VP Coleman N. Lannum III acquired 1,350 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was acquired at an average price of $42.89 per share, with a total value of $57,901.50. Following the completion of the transaction, the vice president now directly owns 30,955 shares in the company, valued at approximately $1,327,659.95. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Hugh M. O’neill acquired 1,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was purchased at an average cost of $40.24 per share, with a total value of $40,240.00. The disclosure for this purchase can be found here. Insiders acquired 3,850 shares of company stock worth $157,687 in the last ninety days. Insiders own 0.53% of the company’s stock.

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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