Piper Jaffray Thinks Mallinckrodt’s Stock is Going to Recover

In a report issued on November 7, David Amsellem from Piper Jaffray reiterated a Buy rating on Mallinckrodt (NYSE: MNK), with a price target of $40. The company’s shares closed yesterday at $21.76, close to its 52-week low of $19.

According to TipRanks.com, Amsellem is a 1-star analyst with an average return of -1.4% and a 46.5% success rate. Amsellem covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Amphastar Pharmaceuticals.

Currently, the analyst consensus on Mallinckrodt is Moderate Buy and the average price target is $39.57, representing an 81.8% upside.

In a report issued on November 2, Cantor Fitzgerald also assigned a Buy rating to the stock with a $52 price target.

The company has a one-year high of $68.12 and a one-year low of $19. Currently, Mallinckrodt has an average volume of 2.98M.

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Mallinckrodt Plc operates as a global specialty pharmaceuticals company. It develops, manufactures, markets and distributes both branded and generic specialty pharmaceutical products and medical imaging agents. It operates through the following segments: Specialty Brands, Specialty Generics, and Nuclear Imaging.

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