Mallinckrodt PLC (MNK) Given a $70.00 Price Target by UBS AG Analysts
Mallinckrodt PLC (NYSE:MNK) received a $70.00 target price from equities researchers at UBS AG in a report issued on Friday. The firm currently has a “buy” rating on the stock. UBS AG’s price objective suggests a potential upside of 97.18% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $67.00 price target on shares of Mallinckrodt PLC in a research note on Thursday. Canaccord Genuity cut shares of Mallinckrodt PLC from a “buy” rating to a “hold” rating and dropped their price target for the stock from $77.00 to $40.00 in a research note on Wednesday. ValuEngine upgraded shares of Mallinckrodt PLC from a “hold” rating to a “buy” rating in a research note on Monday. Cantor Fitzgerald set a $52.00 price target on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Monday. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Mallinckrodt PLC in a research note on Thursday, September 28th. They issued a “buy” rating and a $55.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Mallinckrodt PLC currently has an average rating of “Buy” and an average price target of $60.04.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at 35.50 on Friday. The stock has a 50 day moving average of $36.62 and a 200 day moving average of $41.85. The stock’s market cap is $3.45 billion. Mallinckrodt PLC has a one year low of $33.61 and a one year high of $71.61.
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, topping the Zacks’ consensus estimate of $1.73 by $0.12. The company had revenue of $824.50 million for the quarter, compared to analysts’ expectations of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. Mallinckrodt PLC’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 EPS. On average, analysts forecast that Mallinckrodt PLC will post $7.41 EPS for the current year.
In related news, insider Meredith B. Fischer bought 1,280 shares of the stock in a transaction on Wednesday, August 30th. The shares were acquired at an average price of $39.63 per share, for a total transaction of $50,726.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.77% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNK. Denali Advisors LLC purchased a new stake in shares of Mallinckrodt PLC during the 2nd quarter valued at about $112,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Mallinckrodt PLC during the 1st quarter valued at about $115,000. O Shaughnessy Asset Management LLC increased its position in shares of Mallinckrodt PLC by 335.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock valued at $150,000 after purchasing an additional 2,599 shares during the last quarter. Sterling Capital Management LLC purchased a new stake in shares of Mallinckrodt PLC during the 2nd quarter valued at about $204,000. Finally, Baker Avenue Asset Management LP purchased a new stake in shares of Mallinckrodt PLC during the 1st quarter valued at about $223,000. 97.40% of the stock is owned by hedge funds and other 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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