Jefferies Group assumed coverage on shares of Mallinckrodt PLC (NYSE:MNK) in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm issued a buy rating and a $60.00 target price on the stock.
“Mallinckrodt is uniquely positioned in a consolidating Specialty Pharma industry having three attractive attributes: 1) Potential long duration assets in Xartemis XR and MNK-155, 2) Room for margin expansion post spin; and 3) Tax leverage from its Irish domicile. We see the combination as supporting accelerating earnings over the next three years with potential optionality from M&A and licensing. We rate shares Buy with a $60 PT.,” Jefferies Group’s analyst wrote.
MNK has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Mallinckrodt PLC from an underperform rating to a neutral rating in a research note to investors on Wednesday, October 2nd. They now have a $44.90 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Mallinckrodt PLC in a research note to investors on Tuesday, September 17th. They set a neutral rating on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $46.48.
Mallinckrodt PLC (NYSE:MNK) traded down 0.14% during mid-day trading on Tuesday, hitting $51.46. The stock had a trading volume of 102,267 shares. Mallinckrodt PLC has a 52 week low of $41.00 and a 52 week high of $52.49. The stock has a 50-day moving average of $45.3 and a 200-day moving average of $44.39. The company has a market cap of $2.969 billion and a price-to-earnings ratio of 48.75.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.17. The company had revenue of $552.20 million for the quarter, compared to the consensus estimate of $572.57 million. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts expect that Mallinckrodt PLC will post $2.51 EPS for the current fiscal year.
Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.
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