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Mallinckrodt PLC (NYSE:MNK) hit a new 52-week high on Wednesday , reports. The stock traded as high as $84.46 and last traded at $84.39, with a volume of 2,162,372 shares. The stock had previously closed at $82.30.

A number of analysts have recently weighed in on MNK shares. Analysts at Leerink Swann cut their price target on shares of Mallinckrodt PLC from $90.00 to $77.00 in a research note on Friday, August 8th. Separately, analysts at Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Mallinckrodt PLC in a research note on Friday, August 8th. They now have a $77.00 price target on the stock, down previously from $90.00. Finally, 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. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $85.78.

The stock’s 50-day moving average is $73.08 and its 200-day moving average is $72.0. The company has a market cap of $4.995 billion and a P/E ratio of 72.77. Mallinckrodt PLC also was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 27,287,054 shares, a growth of 74.3% from the July 31st total of 15,651,186 shares. Currently, 47.2% of the company’s shares are short sold. Based on an average trading volume of 3,223,860 shares, the short-interest ratio is presently 8.5 days.

Mallinckrodt PLC (NYSE:MNK) last announced its earnings results on Thursday, August 7th. The company reported $1.20 EPS for the quarter, beating the Thomson Reuters 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 in the prior 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 $4.36 earnings per share for the current fiscal year.

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

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