Analyst Rating Update on Mallinckrodt plc (MNK)

Mallinckrodt plc (NYSE:MNK) : The consensus on Mallinckrodt plc (NYSE:MNK) based on 12 analyst recommendation on the company stock is 1.21, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 10 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 1 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Mallinckrodt plc (NYSE:MNK) : The most positive equity analysts on Mallinckrodt plc (NYSE:MNK) expects the shares to touch $115, whereas, the least positive believes that the stock will trade at $75 in the short term. The company is covered by 11 Wall Street Brokerage Firms. The average price target for shares are $90 with an expected fluctuation of $11.74 from the mean.

For the current week, the company shares have a recommendation consensus of Buy. Also, Goldman Sachs initiates coverage on Mallinckrodt plc (NYSE:MNK) In a research note issued to the investors, the brokerage major announces price-target of $73 per share.The shares have been rated Neutral. The rating by the firm was issued on June 6, 2016.

Mallinckrodt plc (NYSE:MNK): stock turned positive on Tuesday. Though the stock opened at $54.65, the bulls momentum made the stock top out at $56.69 level for the day. The stock recorded a low of $54.65 and closed the trading day at $56.23, in the green by 4.03%. The total traded volume for the day was 1,076,544. The stock had closed at $54.05 in the previous days trading.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the CFO of Mallinckrodt Plc, Harbaugh Matthew K, had purchased 500 shares in a transaction dated on May 10, 2016. The transaction was executed at $59.37 per share with total amount equaling $29,685.

Mallinckrodt public limited company (Mallinckrodt) is a global specialty pharmaceuticals company. The Company develops, manufactures, markets and distributes both branded and generic specialty pharmaceuticals, active pharmaceutical ingredients (API) and diagnostic imaging agents. The Company uses its API products in the manufacture of its generic pharmaceuticals and also sells them to other pharmaceutical companies. The Company operates through two segments: Specialty Pharmaceuticals and Global Medical Imaging. The Companys Specialty Pharmaceuticals segment develops, manufactures and sells, through its Brands business, drugs, including EXALGO (hydromorphone HCl) Extended-Release Tablets and GABLOFEN. The Companys Global Medical Imaging segment develops, manufactures and markets contrast media and delivery systems (CMDS). The Company offers INOMAX Total Care (inhaled nitric oxide), a neonatal critical care product.

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