Mizuho Securities Keeps Their Buy Rating on Mallinckrodt

By Ryan Adsit

In a report released today, Irina Rivkind Koffler from Mizuho Securities reiterated a Buy rating on Mallinckrodt (NYSE: MNK), with a price target of $73. The company’s shares opened today at $44, close to its 52-week low of $38.81.

Rivkind Koffler observed:

“We reiterate our Buy rating and $73 PT and push back against short-seller inaccuracies and Acthar pricing concerns.”

According to TipRanks.com, Koffler is a 5-star analyst with an average return of 19.1% and a 53.7% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Apricus Biosciences Inc, Sucampo Pharmaceuticals, and Pacira Pharmaceuticals.

Currently, the analyst consensus on Mallinckrodt is Strong Buy and the average price target is $75.25, representing a 71.0% upside.

In a report issued on May 24, UBS also reiterated a Buy rating on the stock with a $70 price target.

Based on Mallinckrodt’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $811 million and quarterly net profit of $31.1 million. In comparison, last year the company earned revenue of $918 million and had a net profit of $118 million.

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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.