Analyst Price Target Update on Mallinckrodt plc (NYSE:MNK)

Mallinckrodt plc (NYSE:MNK) should head towards $90 per share according to 11 Analysts in consensus. However, if the road gets shaky, the stock may fall short to $75 per share. The higher price estimate target is at $115 according to the Analysts.

Many analysts have stated their opinion on the company shares. Goldman Sachs initiates coverage on Mallinckrodt plc (NYSE:MNK).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Goldman Sachs announces the price target of $73 per share. The rating by the firm was issued on June 6, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the CFO of Mallinckrodt Plc, Harbaugh Matthew K had purchased shares worth of $29,685 in a transaction dated on May 10, 2016. A total of 500 shares were purchased at a price of $59.37 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Mallinckrodt plc (NYSE:MNK) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.14 points or 0.23% at $59.63 with 1,710,023 shares getting traded. Post opening the session at $59.25, the shares hit an intraday low of $58.85 and an intraday high of $60.96 and the price was in this range throughout the day. The company has a market cap of $6,519 million and the number of outstanding shares have been calculated to be 109,325,511 shares. The 52-week high of Mallinckrodt plc (NYSE:MNK) is $127 and the 52-week low is $50.9.

Mallinckrodt public limited company (Mallinckrodt) is a global specialty pharmaceuticals company. The Company develops, manufactures, markets and distributes both branded and generic specialty pharmaceuticals, active pharmaceutical ingredients (API) and diagnostic imaging agents. The Company uses its API products in the manufacture of its generic pharmaceuticals and also sells them to other pharmaceutical companies. The Company operates through two segments: Specialty Pharmaceuticals and Global Medical Imaging. The Companys Specialty Pharmaceuticals segment develops, manufactures and sells, through its Brands business, drugs, including EXALGO (hydromorphone HCl) Extended-Release Tablets and GABLOFEN. The Companys Global Medical Imaging segment develops, manufactures and markets contrast media and delivery systems (CMDS). The Company offers INOMAX Total Care (inhaled nitric oxide), a neonatal critical care product.

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