Oppenheimer Thinks Mallinckrodt PLC’s (NYSE:MNK) Stock is Going to Recover

Oppenheimer analyst Akiva Felt maintained an Outperform rating on Mallinckrodt PLC (NYSE: MNK) on September 21. The company’s shares closed yesterday at $72.90, close to its 52-week low of $72.

Currently, the analyst consensus on Mallinckrodt is Moderate Buy and the average price target is $121.83, representing a 67.1% upside. In a report issued on September 21, Deutsche Bank also maintained a Buy rating on the stock with a $104 price target.

The company has a one year high of $134.26 and a one year low of $72. Currently, Mallinckrodt has an average volume of 1.81M.

Financial bloggers on sites such as SeekingAlpha, investorplace.com and others, seem to have a Positive view on MNK. When evaluating the opinions of financial bloggers over the last 3 months, 87% of bloggers have indicated a Bullish sentiment, while 13% have indicated a Bearish sentiment. The average blogger Bullish sentiment in the sector is 75% which is less positive than the blogger sentiment of MNK.

Unlike Oppenheimer`s latest rating, based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MNK in relation to earlier this year. Last month, Diane Gulyas, a a Director at MNK bought 850 shares for a total of $69,071.

According to TipRanks.com, Felt is a top 100 analyst with an average return of 28.2% and a 55.2% success rate. Felt covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, Pernix Therapeutics, and Intercept Pharma.

Mallinckrodt PLC develops, manufactures, markets & distributes generic specialty pharmaceutical products, active pharmaceutical ingredients and diagnostic imaging agents. It operates in two segments; Specialty Pharmaceuticals & Global Medical Imaging.