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MNK

Mallinckrodt

$35.50

-1.86 (-4.98%)

07:09
10/06/17
10/06
07:09
10/06/17
07:09

Mallinckrodt investors should stay the course, says UBS

UBS analyst Marc Goodman admitted Mallinckrodt remains a controversial name, but he recommends investors stay the course. The analyst said his takeaway from the recent analyst day supports his positive view of the company and he believes its pipeline has several potential commercial successes. Goodman reiterated his Buy rating and $70 price target on Mallinckrodt shares.

MNK Mallinckrodt
$35.50

-1.86 (-4.98%)

10/02/17
WELS
10/02/17
NO CHANGE
WELS
Outperform
Mallinckrodt licensing agreement a positive, says Wells Fargo
Wells Fargo analyst David Maris views Mallinckrodt's licensing agreement for NeuroproteXeon's pharmaceutical-grade xenon gas as a "positive, low-cost addition" to the company's hospital pipeline. This news shows Mallinckrodt management continues to build its pipeline despite the loss of a court case recently on Inomax, Maris tells investors in an intraday research note. He maintains an Outperform rating on the shares.
10/04/17
ADAM
10/04/17
DOWNGRADE
ADAM
Hold
Mallinckrodt downgraded to Hold from Buy at Canaccord
Canaccord Genuity analyst Dewey Steadman downgraded Mallinckrodt to Hold and cut his price target for the shares to $40 from $77. The pharmaceutical company closed the trading day down 23c to $37.36. Following today's investor day, Steadman sees a lack of near-term catalysts and believes the story will take time to evolve. Mallinckrodt, instead of embarking on "creative business development" to offset continued concentration and "competitive attacks" on the Acthar franchise, has pursued development-stage assets that will do little to move the needle near-term, Steadman tells investors in a research note following today's close. He sees competition as a matter of when, not if, for Acthar and Inomax.
10/05/17
PIPR
10/05/17
NO CHANGE
Target $67
PIPR
Overweight
Piper staying bullish on Mallinckrodt after investor day
Piper Jaffray analyst David Amsellem says he's staying bullish on shares of Mallinckrodt after attending yesterday's investor day. The company's pipeline is "emerging and underappreciated," Amsellem tells investors in a research note. Mallinckrodt will be well positioned to drive sustainable cash flows even with the erosion of Ofirmev due to generics starting in 2020 and potential pressure on Inomax as its pipeline matures, Amsellem contends. Further, he continues to believe that the barriers to competition related to Acthar are high. The analyst finds Mallinckrodt attractively valued and reiterates an Overweight rating on the shares with a $67 price target. Canaccord Genuity last night downgraded Mallinckrodt to Hold.
10/05/17
10/05/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Mallinckrodt (MNK) downgraded to Hold from Buy at Canaccord with analyst Dewey Steadman saying he sees a lack of near-term catalysts and believes the story will take time to evolve. 2. GrubHub (GRUB) downgraded to Neutral from Buy at Citi with analyst Mark May citing valuation with the shares up 44% year-to-date. 3. Coach (COH) downgraded to Neutral from Overweight at Piper Jaffray with analyst Erinn Murphy saying the stock is likely to enter a "period of digestion" as the company integrates Kate Spade and as investors "grapple with" its new reporting structure. 4. PNC Financial (PNC) downgraded to Equal Weight from Overweight at Stephens with analyst Terry McEvoy saying he views the shares as fairly valued following the stock's outperformance relative to Super Regional bank peers year-to-date. 5. Six Flags (SIX) downgraded to Long-Term Buy from Buy at Hilliard Lyons with analyst Jeffrey Thomison citing recent share appreciation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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LKM

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