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MNK

Mallinckrodt

$13.73

-1.17 (-7.85%)

13:39
04/12/18
04/12
13:39
04/12/18
13:39

Stifel downgrades Mallinckrodt to Hold with sentiment seen staying low

As previously reported, Stifel analyst Annabel Samimy downgraded Mallinckrodt to Hold from Buy. Samimy said he cannot prove or disprove the alleged improper Acthar distribution and Medicare claims made against Mallinckrodt in a recently filed whistleblower lawsuit, but he believes that the "singularly persistent" overhang of Acthar will not lift in the near-term, regardless of the strength of the company's upcoming pipeline opportunities. The analyst thinks it is prudent to step to the side until the Acthar overhang, coupled with the overhang of opioid litigation, has more clarity toward resolution, he tells investors. Samimy lowered his price target on Mallinckrodt shares to $15 from $50.

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MNK Mallinckrodt
$13.73

-1.17 (-7.85%)

04/11/18
RHCO
04/11/18
INITIATION
Target $15
RHCO
Hold
Mallinckrodt initiated with a Hold at SunTrust
SunTrust analyst John Boris initiated Mallinckrodt with a Hold and $15 price target.
04/12/18
04/12/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Mallinckrodt (MNK) initiated with a Hold at SunTrust. 2. Hershey (HSY) initiated with a Neutral at Piper Jaffray. 3. Autoliv (ALV) initiated with a Hold at Cross Research. 4. Leap Therapeutics (LPTX) initiated with a Buy at H.C. Wainwright. 5. Monolithic Power (MPWR) initiated with a Strong Buy at Raymond James. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/12/18
WELS
04/12/18
NO CHANGE
WELS
Market Perform
Mallinckrodt strongly disagrees with whistleblower suit, says Wells Fargo
Mallinckrodt shares are down sharply after news of a whistleblower lawsuit was made public, Wells Fargo analyst David Maris tells investors in an intraday research note. Mallinckrodt strongly disagrees with the allegations, believes the suit is baseless, and plans to defend itself vigorously, Maris writes after speaking to the company. The analyst believes whistleblower suits and court documents "often read poorly for a company as they are often one sided." However, the complaint alleges a number of bad actions by Mallinckrodt that could have larger implications if true, Maris adds. He recommends not jumping to conclusions and keeps a Market Perform rating on Mallinckrodt. The stock in morning trading is down 7% to $13.84.
04/12/18
STFL
04/12/18
DOWNGRADE
STFL
Hold
Mallinckrodt downgraded to Hold from Buy at Stifel

TODAY'S FREE FLY STORIES

FDX

FedEx

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0.33 (0.13%)

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TLRY

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TRNO

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TSLA

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ELS

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FDX

FedEx

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HOFT

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PRSC

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PSDO

Presidio

$16.38

-0.46 (-2.73%)

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CBZ

CBIZ

$23.70

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CTRV

ContraVir Pharmaceuticals

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AAPL

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NKE

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RLMD

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GE

General Electric

$12.71

0.02 (0.16%)

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PERY

Perry Ellis

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TTEK

Tetra Tech

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NXEO

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BXP

Boston Properties

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ROX

Castle Brands

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CASY

Casey's General Stores

$125.30

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