Mallinckrodt PLC (NYSE:MNK)’s stock price gapped down before the market opened on Monday after SVB Leerink lowered their price target on the stock from $2.00 to $1.50. The stock had previously closed at $1.20, but opened at $1.07. SVB Leerink currently has a market perform rating on the stock. Mallinckrodt shares last traded at $1.10, with a volume of 20,477 shares traded.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. downgraded Mallinckrodt from a “neutral” rating to an “underweight” rating in a report on Tuesday, May 19th. BMO Capital Markets reduced their price target on Mallinckrodt from $4.00 to $2.00 and set a “market perform” rating for the company in a research report on Wednesday, August 5th. ValuEngine raised Mallinckrodt from a “sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Piper Sandler cut Mallinckrodt from a “neutral” rating to an “underweight” rating in a research report on Tuesday, August 4th. Finally, Barclays reissued a “hold” rating on shares of Mallinckrodt in a research report on Wednesday, August 5th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $2.70.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC lifted its position in shares of Mallinckrodt by 23.1% in the first quarter. Aperio Group LLC now owns 33,760 shares of the company’s stock valued at $66,000 after buying an additional 6,338 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Mallinckrodt in the second quarter valued at approximately $28,000. California Public Employees Retirement System lifted its position in shares of Mallinckrodt by 6.4% in the second quarter. California Public Employees Retirement System now owns 193,805 shares of the company’s stock valued at $519,000 after buying an additional 11,605 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Mallinckrodt in the second quarter valued at approximately $32,000. Finally, Sontag Advisory LLC lifted its position in shares of Mallinckrodt by 57.9% in the second quarter. Sontag Advisory LLC now owns 40,000 shares of the company’s stock valued at $107,000 after buying an additional 14,668 shares during the last quarter. 61.67% of the stock is owned by institutional investors.

The company has a market capitalization of $95.59 million, a price-to-earnings ratio of -0.04, a PEG ratio of 0.01 and a beta of 3.00. The stock has a 50-day moving average price of $1.60 and a 200-day moving average price of $2.54. The company has a debt-to-equity ratio of 5.39, a current ratio of 1.48 and a quick ratio of 1.23.

Mallinckrodt (NYSE:MNK) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.55. The company had revenue of $700.90 million during the quarter, compared to analysts’ expectations of $630.19 million. Mallinckrodt had a positive return on equity of 34.26% and a negative net margin of 89.94%. The business’s revenue was down 14.9% on a year-over-year basis. During the same period last year, the firm posted $2.53 earnings per share. Equities analysts forecast that Mallinckrodt PLC will post 6.33 earnings per share for the current year.

About Mallinckrodt (NYSE:MNK)

Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.

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