Mallinckrodt PLC (MNK) is Reiterated by Piper Jaffray to Overweight, Raises Price Target to $ 112

Mallinckrodt PLC (MNK) was Reiterated by Piper Jaffray to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 112 from a previous price target of $103 . Piper Jaffray advised their investors in a research report released on Aug 24, 2016.

Many Wall Street Analysts have commented on Mallinckrodt PLC. Stifel Initiated Mallinckrodt PLC on Aug 12, 2016 to “Buy”, Price Target of the shares are set at $95.Company shares were Reiterated by Mizuho on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 91 from a previous price target of $83 .Company shares were Reiterated by Barclays on Aug 3, 2016 to “Overweight”, Firm has raised the Price Target to $ 88 from a previous price target of $75 .

On the company’s financial health, Mallinckrodt PLC reported $2.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $2.01. The company had revenue of $970.60 million for the quarter, compared to analysts expectations of $921.82 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 EPS.

Mallinckrodt PLC opened for trading at $82.28 and hit $83.45 on the upside on Tuesday, eventually ending the session at $83.06, with a gain of 1.94% or 1.58 points. The heightened volatility saw the trading volume jump to 14,43,848 shares. Company has a market cap of $8,947 M.

In a different news, on May 11, 2016, Matthew K Harbaugh (CFO) purchased 500 shares at $59.37 per share price. According to the SEC, on May 10, 2016, Hugh M. O’neill (Sr. VP & Pres, ARD) purchased 1,653 shares at $60.99 per share price. On May 9, 2016, Steven J. Romano (Sr. VP & Chief Scientific Ofcr) purchased 900 shares at $56.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s Specialty Pharmaceuticals segment develops manufactures and sells through its Brands business drugs including EXALGO (hydromorphone HCl) Extended-Release Tablets and GABLOFEN. The Company’s 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.

Mallinckrodt PLC

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