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Stock analysts at Piper Jaffray began coverage on shares of Mallinckrodt PLC (NYSE:MNK) in a report issued on Wednesday, reports. The firm set an “overweight” rating on the stock.

Mallinckrodt PLC (NYSE:MNK) traded up 4.26% on Wednesday, hitting $54.38. 1,326,461 shares of the company’s stock traded hands. Mallinckrodt PLC has a 52-week low of $41.00 and a 52-week high of $53.80. The stock’s 50-day moving average is $51.75 and its 200-day moving average is $45.95. The company has a market cap of $3.154 billion and a P/E ratio of 51.29.

Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings data 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 revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts predict that Mallinckrodt PLC will post $2.53 earnings per share for the current fiscal year.

A number of other firms have also recently commented on MNK. Analysts at Buckingham Research initiated coverage on shares of Mallinckrodt PLC in a research note to investors on Wednesday, December 4th. They set a “buy” rating on the stock. Analysts at Jefferies Group initiated coverage on shares of Mallinckrodt PLC in a research note to investors on Tuesday, November 26th. They set a “buy” rating and a $60.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Mallinckrodt PLC has an average rating of “Hold” and a consensus target price of $48.41.

Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.

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