Mallinckrodt (NYSE:MNK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $40.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 13.41% from the stock’s previous close.

According to Zacks, “The year 2018 is expected to be a transformative year for Mallinckrodt as the company strives to revive its product portfolio/pipeline. The hospital franchise (Inomax and Ofirmev) has gained traction which is positively impacting sales. The company also upped its annul guidance. The Sucampo buyout will diversify the company’s portfolio considering Amitiza’s potential. The company is currently streamlining its business to focus better on its innovative medicines and therapies like terlipressin and StrataGraft. The recent restructuring efforts are encourgaing as the company has been in troubled waters for quite some time now. However, sales of Acthar continue to decline due to the residual impact of patient withdrawal issues thereby adversely impacting the top-line as the drug is the lead product of the company. The CRL for  stannsoporfin was disappointing. Shares have outperformed the industry in the year so far.”

Several other equities research analysts have also issued reports on MNK. Cantor Fitzgerald set a $42.00 target price on shares of Mallinckrodt and gave the company a “buy” rating in a research report on Monday, April 30th. ValuEngine lowered shares of Mallinckrodt from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. B. Riley started coverage on shares of Mallinckrodt in a research report on Wednesday, May 2nd. They set a “neutral” rating and a $15.00 target price for the company. Mizuho reiterated a “hold” rating and set a $15.00 target price on shares of Mallinckrodt in a research report on Thursday, May 3rd. Finally, Wells Fargo & Co set a $15.00 target price on shares of Mallinckrodt and gave the company a “hold” rating in a research report on Friday, May 4th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. Mallinckrodt presently has a consensus rating of “Hold” and a consensus price target of $34.45.

Shares of Mallinckrodt stock opened at $35.27 on Monday. Mallinckrodt has a 1 year low of $11.65 and a 1 year high of $41.70. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 4.71, a P/E/G ratio of 0.59 and a beta of 1.36. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.27 and a quick ratio of 2.06.

Mallinckrodt (NYSE:MNK) last announced its earnings results on Tuesday, August 7th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.30. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. The business had revenue of $631.70 million during the quarter, compared to analyst estimates of $621.15 million. equities research analysts predict that Mallinckrodt will post 6.7 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in MNK. Victory Capital Management Inc. bought a new stake in shares of Mallinckrodt in the 1st quarter worth approximately $104,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Mallinckrodt by 11,188.0% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 10,385 shares of the company’s stock worth $150,000 after acquiring an additional 10,293 shares during the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Mallinckrodt in the 1st quarter worth approximately $175,000. Financial Gravity Wealth Inc. bought a new stake in shares of Mallinckrodt in the 1st quarter worth approximately $182,000. Finally, Advisors Preferred LLC lifted its holdings in shares of Mallinckrodt by 493.9% in the 2nd quarter. Advisors Preferred LLC now owns 10,512 shares of the company’s stock worth $196,000 after acquiring an additional 8,742 shares during the last quarter.

Mallinckrodt Company Profile

Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.

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