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MNK

Mallinckrodt

$19.79

0.51 (2.65%)

12:40
01/10/19
01/10
12:40
01/10/19
12:40

One-year hedge opened in Mallinckrodt

One-year hedge opened in Mallinckrodt. The stock up 55c to $19.82 and 4.1K Jan20 20 puts trade $4.65 when bid-ask was $4.20 to 4.80. The $1.9M premium purchase opens a position in in-the-money puts that expire 1/17/2020. A shareholder is likely opening a 2019 hedge after shares lost 30% in 2018.

  • 10

    Jan

MNK Mallinckrodt
$19.79

0.51 (2.65%)

12/07/18
PIPR
12/07/18
NO CHANGE
Target $39
PIPR
Overweight
Mallinckrodt generics spin-off 'least bad outcome,' says Piper Jaffray
In a research note titled "The Least Bad Outcome for the Generics Business," Piper Jaffray analyst David Amsellem reiterates an Overweight rating on Mallinckrodt with a $39 price target. Given that the generics segment is almost entirely a commodity business, Mallinckrodt not finding a buyer for its active pharmaceutical ingredient and specialty generics businesses is not all that surprising, Amsellem tells investors in a research note. He views yesterday's news of the company announcing a spin-off as the "least bad" outcome. The analyst reiterates an Overweight rating on Mallinckrodt with a $39 price target.
12/07/18
WELS
12/07/18
NO CHANGE
Target $27
WELS
Market Perform
Mallinckrodt investor worries 'worthy of concern,' says Wells Fargo
Wells Fargo analyst David Maris attrubites the 7% selloff yesterday in shares of Mallinckrodt to investors recognizing that the spin-off process could take at least six months and the proceeds previously expected from a sale will now come in the form of levering the spin with debt. Furthering pressing the shares could the realiztioin that the company's opioid and environmental liabilities may not have been fully appreciated, Maris tells investors in a research note partially titled "Questions, But A Reasonable Alternative." The fact that the generics business now has to be consolidated after being reported as a discontinued operation, only to be taken out again when the spin is completed is also challenging for some investors, Maris writes. The analyst, while admitting Mallinckrodt's current cash flow is "very appealing," acknowledges that the re-consolidation and then spin of the generics unit, pending competition of Inomax in 2019, and investor worries about Acthar is "worthy of concern." He maintains a Market Perform rating on Mallinckrodt shares with a $27 price target.
12/17/18
MZHO
12/17/18
NO CHANGE
Target $22
MZHO
Neutral
Mallinckrodt price target lowered to $22 from $29 at Mizuho
Mizuho analyst Irina Koffler lowered her price target for Mallinckrodt to $22 while presenting an initial view of how to value the two separate companies. The analyst reduced estimates for Acthar and took a more "conservative stance" on Amitiza's long-term outlook. She also penalized the spin company $2 per share for estimated opioid liability. Koffler ascribes $16 per share to the branded business and $6 to the spin company. She reiterates a Neutral rating on Mallinckrodt.
12/31/18
RILY
12/31/18
NO CHANGE
Target $21
RILY
Neutral
Mallinckrodt price target lowered to $21 from $37 at B. Riley FBR
B. Riley FBR analyst David Buck lowered his price target for Mallinckrodt to $21 after the company earlier this month announced plans to spin off a new company consisting of its specialty generics business and Amitiza to shareholders. The analyst keeps a Neutral rating on the shares.

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ROX

Castle Brands

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0.0122 (1.36%)

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PRT

PermRock Royalty Trust

$9.61

-0.39 (-3.90%)

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GBCI

Glacier Bancorp

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ERJ

Embraer

$22.81

-0.59 (-2.52%)

20:34
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AICAF

Air China

$0.00

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CEA

China Eastern Airlines

$28.64

-0.09 (-0.31%)

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MS

Morgan Stanley

$44.48

1.59 (3.71%)

, BBT

BB&T

$47.55

1.2 (2.59%)

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M&T Bank

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Fastenal

$54.11

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FDC

First Data

$21.27

3.72 (21.20%)

20:07
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  • 03

    Mar

VEON

Veon

$2.56

-0.03 (-1.16%)

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AMZN

Amazon.com

$1,682.84

7.84 (0.47%)

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GS

Goldman Sachs

$197.03

17.12 (9.52%)

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TSLA

Tesla

$346.03

1.78 (0.52%)

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BAC

Bank of America

$28.44

1.89 (7.12%)

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NEWR

New Relic

$90.47

1.38 (1.55%)

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TME

Tencent Music

$12.99

0.57 (4.59%)

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ASCMA

Ascent Capital

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CMS

CMS Energy

$50.56

0.34 (0.68%)

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  • 10

    Feb

DTE

DTE Energy

$111.73

0.48 (0.43%)

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