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Research analysts at Leerink Swann reduced their target price on shares of Mallinckrodt PLC (NYSE:MNK) from $90.00 to $77.00 in a report released on Friday. Leerink Swann’s price objective points to a potential upside of 10.90% from the stock’s previous close.

In other Mallinckrodt PLC news, major shareholder Paulson & Co Inc acquired 275,000 shares of the stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $69.60 per share, with a total value of $19,140,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Several other analysts have also recently commented on the stock. Analysts at Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Mallinckrodt PLC in a research note on Friday. They now have a $77.00 price target on the stock, down previously from $90.00. Separately, analysts at Bank of America raised their price target on shares of Mallinckrodt PLC to $97.00 in a research note on Tuesday, July 29th. Finally, analysts at Deutsche Bank initiated coverage on shares of Mallinckrodt PLC in a research note on Tuesday, July 22nd. They set a “buy” rating and a $96.00 price target on the stock. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Mallinckrodt PLC presently has an average rating of “Buy” and a consensus price target of $85.78.

Mallinckrodt PLC (NYSE:MNK) traded up 0.46% during mid-day trading on Friday, hitting $69.43. 2,628,440 shares of the company’s stock traded hands. Mallinckrodt PLC has a 1-year low of $41.67 and a 1-year high of $83.20. The stock’s 50-day moving average is $75.05 and its 200-day moving average is $70.19. The company has a market cap of $4.066 billion and a P/E ratio of 64.11.

Mallinckrodt PLC (NYSE:MNK) last announced its earnings results on Thursday, August 7th. The company reported $1.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.87 by $0.33. The company had revenue of $653.10 million for the quarter, compared to the consensus estimate of $278.80 million. During the same quarter last year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis. On average, analysts predict that Mallinckrodt PLC will post $3.71 earnings per share for the current fiscal year.

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

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