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Fly News Breaks for August 12, 2016
MNK
Aug 12, 2016 | 06:42 EDT
Stifel analyst Annabel Samimy started Mallinckrodt with a Buy rating and $95 price target. The company has made a "profound transformation" from provider of generic controlled substances and nuclear imaging to a diversified player in durable specialty and hospital-based treatments, Samimy tells investors in a research note. The company's lead brand Acthar has "significant room" for further penetration into its labeled indications, the analyst contends. Mallinckrodt closed yesterday up 21c to $78.98.
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