Mallinckrodt plc Ordinary Share (NYSE:MNK):
FDA Grants Orphan Drug Designation to Mallinckrodt Development Product for Potential Treatment of Duchenne Muscular Dystrophy.
In the market the company is trading up from yesterday’s close of $43.05.
Mallinckrodt public limited company, launched on January 9, 2013, develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs. The Business’s segments include Specialty Brands and Specialty Generics. The Specialty Brands segment produces and markets branded pharmaceutical products and therapies. The Specialty Generics segment produces and markets specialty generic pharmaceuticals and active pharmaceutical ingredient (API) consisting of biologics, medicinal opioids, synthetic controlled substances, acetaminophen and other active ingredients..
The stock last traded at $44.10 a tad above the 50 day moving average of $42.92 and a bit lower than the 200 day moving average of $47.15. The 50 day moving average went up $1.18 or +2.75% and the 200 day average moved down $-3.05.
As of the latest earnings report the EPS was $-3.20 and is projected to be $7.55 for the current year with 99,346,000 shares now outstanding. Analysts expect next quarter’s EPS will be $1.96 and the next full year EPS is anticipated to be $8.43.
Ratings analysts have released opinions on MNK. Equity analyst Cantor Fitzgerald initiated coverage on the stock setting a rating of “Overweight”. November 30 investment analysts at Deutsche Bank kept the company rating at “Buy” and lowered the price target to $73.00 from $84.00.
On November 30 JP Morgan made no change to the stock rating of “Buy” but moved down the price target from $85.00 to $73.00. On November 18 analysts at Raymond James started coverage with a rating of “Outperform”.
On August 31 Deutsche Bank kept the stock rating at “Buy” and lowered the price expectation from $87.00 to $84.00. On August 25 Barclays left the stock rating at “Overweight” and moved up the price target from $80.00 to $112.00.