Jefferies Gives a Buy Rating to Mallinckrodt

By Austin Angelo

In a report released yesterday, David Steinberg from Jefferies reiterated a Buy rating on Mallinckrodt (NYSE: MNK), with a price target of $70. The company’s shares closed yesterday at $44.93.

According to, Steinberg is a 3-star analyst with an average return of 2.1% and a 46.9% success rate. Steinberg covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Spectrum Pharmaceuticals, and Supernus Pharmaceuticals.

Mallinckrodt has an analyst consensus of Strong Buy, with a price target consensus of $71.

Based on Mallinckrodt’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $830 million and GAAP net loss of $153 million. In comparison, last year the company earned revenue of $918 million and had a net profit of $118 million.

Based on the recent corporate insider activity of 95 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MNK in relation to earlier this year. Most recently, in May 2016, Hugh O’neill, the Sr. VP & Pres, ARD of MNK bought 1,653 shares for a total of $100,816.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Mallinckrodt Plc operates as a global specialty pharmaceuticals company. It develops, manufactures, markets and distributes both branded and generic specialty pharmaceutical products and medical imaging agents. It operates through the following segments: Specialty Brands, Specialty Generics, and Nuclear Imaging. The Specialty Brands segment produces and markets branded pharmaceuticals and biopharmaceuticals. The Specialty Generics segment engages in the production of specialty generic pharmaceuticals and active pharmaceutical ingredients consisting of biologics, medicinal opioids, synthetic controlled substances, acetaminophen and other active ingredients. The Nuclear Imaging segment manufactures and markets radiopharmaceuticals. The company was founded by Gustavo Mallinckrodt, Otto Mallinckrodt and Edward Mallinckrodt in 1867 and is headquartered in Chesterfield, the United Kingdom.