Oppenheimer Initiates Coverage on Mallinckrodt PLC (MNK)
Equities research analysts at Oppenheimer assumed coverage on shares of Mallinckrodt PLC (NYSE:MNK) in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $104.00 price target on the stock. Oppenheimer’s target price would indicate a potential upside of 39.62% from the stock’s previous close.
MNK has been the subject of a number of other recent research reports. Analysts at Leerink Swann raised their price target on shares of Mallinckrodt PLC from $82.00 to $90.00 in a research note on Thursday, May 22nd. Separately, analysts at Jefferies Group raised their price target on shares of Mallinckrodt PLC from $77.00 to $85.00 in a research note on Monday, May 12th. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $81.46.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at 74.49 on Wednesday. Mallinckrodt PLC has a 52 week low of $41.67 and a 52 week high of $83.20. The stock has a 50-day moving average of $77.07 and a 200-day moving average of $68.41. The company has a market cap of $4.362 billion and a price-to-earnings ratio of 69.66.
Mallinckrodt PLC (NYSE:MNK) last released its earnings data on Thursday, May 8th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.17. The company had revenue of $557.80 million for the quarter, compared to the consensus estimate of $566.50 million. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, analysts predict that Mallinckrodt PLC will post $3.50 earnings per share for the current fiscal year.
Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.
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