Mallinckrodt Receives New Rating from Top Analyst

By George MacDonald

According to The Fly, jefferies analyst Raj Denhoy reiterated a Buy rating on Mallinckrodt (NYSE: MNK) yesterday. The company’s shares closed yesterday at $79.99.

According to TipRanks.com, Denhoy is a top 100 analyst with an average return of 15.0% and a 73.6% success rate. Denhoy covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp., Varian Medical Systems, and Zimmer Biomet Holdings.

Currently, the analyst consensus on Mallinckrodt is Strong Buy and the average price target is $94.13, representing a 17.7% upside.

In a report issued on July 21, Mizuho Securities also reiterated a Buy rating on the stock with a $83 price target.

The company has a one year high of $104.39 and a one year low of $50.90. Currently, Mallinckrodt has an average volume of 1.81M.

Based on the recent corporate insider activity of 100 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, a the Sr. VP & Pres, ARD of MNK bought 1,653 shares for a total of $100,816.

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 on January 9, 2013 and is headquartered in Chesterfield, the United Kingdom.