Leerink Swann Reaffirms Outperform Rating for Mallinckrodt PLC (MNK)
Mallinckrodt PLC (NYSE:MNK)‘s stock had its “outperform” rating reiterated by Leerink Swann in a report issued on Saturday. They currently have a $92.00 target price on the stock. Leerink Swann’s price target indicates a potential upside of 68.53% from the stock’s current price.
A number of other research firms also recently issued reports on MNK. Wells Fargo & Co. reiterated an “outperform” rating and issued a $83.50 price objective (down previously from $88.50) on shares of Mallinckrodt PLC in a report on Friday, October 21st. Zacks Investment Research upgraded Mallinckrodt PLC from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Tuesday, August 30th. Piper Jaffray Cos. increased their price objective on Mallinckrodt PLC from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Wednesday, August 24th. Barclays PLC reiterated an “overweight” rating and issued a $88.00 price objective on shares of Mallinckrodt PLC in a report on Thursday, August 25th. Finally, Guggenheim reiterated a “buy” rating and issued a $98.00 price objective on shares of Mallinckrodt PLC in a report on Wednesday, August 3rd. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Mallinckrodt PLC has an average rating of “Buy” and a consensus target price of $89.54.
Shares of Mallinckrodt PLC (NYSE:MNK) traded down 1.32% during midday trading on Friday, reaching $54.59. 4,969,403 shares of the company’s stock were exchanged. Mallinckrodt PLC has a 12 month low of $50.90 and a 12 month high of $85.83. The firm has a 50 day moving average price of $65.17 and a 200 day moving average price of $66.65. The company has a market cap of $5.88 billion, a P/E ratio of 10.29 and a beta of 1.62.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Credit Suisse AG boosted its position in Mallinckrodt PLC by 18.0% in the third quarter. Credit Suisse AG now owns 231,138 shares of the company’s stock worth $16,128,000 after buying an additional 35,186 shares during the last quarter. Phocas Financial Corp. boosted its position in Mallinckrodt PLC by 7.0% in the third quarter. Phocas Financial Corp. now owns 65,006 shares of the company’s stock worth $4,536,000 after buying an additional 4,279 shares during the last quarter. Chartwell Investment Partners LLC bought a new position in Mallinckrodt PLC during the third quarter worth $31,922,000. Xact Kapitalforvaltning AB bought a new position in Mallinckrodt PLC during the third quarter worth $492,000. Finally, Panagora Asset Management Inc. boosted its position in Mallinckrodt PLC by 608.2% in the third quarter. Panagora Asset Management Inc. now owns 160,789 shares of the company’s stock worth $11,220,000 after buying an additional 138,084 shares during the last quarter. 94.77% of the stock is currently owned by hedge funds and other institutional investors.
Mallinckrodt PLC Company Profile
Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.
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