Mallinckrodt PLC Price Target Increased to $66.00 by Analysts at Jefferies Group (MNK)
Research analysts at Jefferies Group raised their target price on shares of Mallinckrodt PLC (NYSE:MNK) from $60.00 to $66.00 in a report released on Friday, StockRatingsNetwork.com reports. Jefferies Group’s price target suggests a potential upside of 14.01% from the company’s current price.
Shares of Mallinckrodt PLC (NYSE:MNK) traded up 0.68% during mid-day trading on Friday, hitting $57.89. 999,187 shares of the company’s stock traded hands. Mallinckrodt PLC has a 52 week low of $41.00 and a 52 week high of $61.77. The stock has a 50-day moving average of $55.61 and a 200-day moving average of $48.10. The company has a market cap of $3.363 billion and a P/E ratio of 56.54.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.66 by $0.22. The company had revenue of $540.20 million for the quarter, compared to the consensus estimate of $539.24 million. The company’s quarterly revenue was up 7.2% 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.
In other Mallinckrodt PLC news, CEO Mark Trudeau sold 14,890 shares of Mallinckrodt PLC stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.12, for a total transaction of $835,626.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at UBS AG downgraded shares of Mallinckrodt PLC from a “neutral” rating to a “sell” rating in a research note to investors on Monday, January 27th. They now have a $43.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Morgan Stanley initiated coverage on shares of Mallinckrodt PLC in a research note to investors on Wednesday, January 8th. They set an “overweight” rating and a $60.00 price target on the stock. Finally, analysts at Piper Jaffray initiated coverage on shares of Mallinckrodt PLC in a research note to investors on Wednesday, January 8th. They set an “overweight” rating on the stock. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Mallinckrodt PLC has a consensus rating of “Hold” and an average price target of $50.36.
Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.
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