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News Breaks
August 22, 2014
09:02 EDTMNKMallinckrodt names Furey Chief Compliance Officer
Mallinckrodt announced today that Gary Phillips, Senior Vice President and Chief Strategy Officer, has been appointed to serve as Senior Vice President and President of the Company’s Autoimmune and Rare Disease business, which includes the commercial organization supporting H.P. Acthar Gel. Additionally, Ray Furey, formerly Senior Vice President and Chief Compliance Officer at Questcor Pharmaceuticals, has been appointed as Senior Vice President and the Chief Compliance Officer at Mallinckrodt. The appointments are effective immediately.
News For MNK From The Last 14 Days
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October 7, 2015
08:39 EDTMNKMallinckrodt price target lowered to $97 from $114 at Leerink
Leerink analyst Jason Gerberry lowered his price target for Mallinckrodt to $97 after the company issued an outlook for FY16. The outlook is positive, as it implies mid-single digit organic growth from key brands, Gerberry tells investors in a research note. He keeps an Outperform rating on the name.
07:23 EDTMNKEuropean Committee Treatment & Research in Multiple Sclerosis holds meeting
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06:44 EDTMNKMallinckrodt price target lowered to $104 from $140 at Piper Jaffray
Piper Jaffray analyst David Amsellem lowered his price target for Mallinckrodt to $104 citing "recent market realities." The analyst says the company's FY16 guidance contained no surprises and he views the stock as attractively valued at current levels. Amsellem keeps an Overweight rating on the name.
October 6, 2015
09:22 EDTMNKOn The Fly: Pre-market Movers
UP AFTER EARNINGS: PepsiCo (PEP), up 2.6%. ALSO HIGHER: PMC-Sierra (PMCS), up 33.8% after being acquired by Skyworks (SWKS)... Skyworks is up 2.5%... MagneGas (MNGA), up 8.9% after receiving order from a U.S. Army contractor... Exelixis (EXEL), up 5.9% after the phase 3 pivotal trial of cobimetinib met its secondary endpoint... DuPont (DD), up 6.1% after CEO and chair Ellen Kullman retires... Mallinckrodt (MNK), up 3% after providing fiscal 2016 guidance and a business update in a conference call. LOWER: EXACT Sciences (EXAS), down 34.7% after Cologuard included as an alternative screen test under the U.S. Preventive Services Task Force draft guidelines... Illumina (ILMN), down 17.7% after providing third quarter, fourth quarter, and fiscal 2015 guidance... Tesla (TSLA), down 2.5% after Model X forecasts were lowered at Morgan Stanley and the firm cut its price target to $450.
07:43 EDTMNKMallinckrodt continues to expect to generate $1B in cash annually
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07:43 EDTMNKMallinckrodt wants no more than a third of operating income from single product
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07:42 EDTMNKMallinckrodt says specialty generics business will have difficult comparisons
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07:41 EDTMNKMallinckrodt says Acthar is 'complex product', expects long-term volume growth
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06:54 EDTMNKMallinckrodt to hold a conference call
Management holds a business update conference call on October 6 at 7:30 am. Webcast Link
06:10 EDTMNKMallinckrodt sees FY16 net sales from Specialty Brands up at least 30%
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06:06 EDTMNKMallinckrodt sees FY16 adjusted EPS $7.70-$8.20, consensus $8.00
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October 5, 2015
18:56 EDTMNKOn The Fly: After Hours Movers
HIGHER: Regulus Therapeutics (RGLS), up 8.7% after the company announced that it will present new preclinical data on RG-012 for kidney disease... Palatin Technologies (PTN), up 9.6% after director Robert deVeer Jr. buys 10,000 shares of common stock... Arena Pharmaceuticals (ARNA), up 4.7% after CEO Jack Lief announced his retirement and Harry Hixson was named interim CEO... DuPont (DD), up 5.9% after CEO and chair Ellen Kullman retires... Ruckus Wireless (RKUS), up 4.9% after joining the S&P 600... Starz (STRZA), up 10.1% after the LA Times reports that Lionsgate (LGF) is in advanced talks to merge with Starz. DOWN AFTER EARNINGS: Container Store (TCS), down 10.4%. ALSO LOWER: Sarepta Therapeutics (SRPT), down 3.8% after filing to sell $125M of common stock... Haemonetics (HAE), down 12.2% after lowering its fiscal 2016 outlook... Energy XXI (EXXI), down 8.3% after filing a $500M mixed securities shelf... Mallinckrodt (MNK), down 1.6% after announcing that it will provide a business update and financial guidance for the fiscal year ending September 30, 2016, on an investor call on October 6.
17:58 EDTMNKMallinckrodt down 1.9% after announcing business update conference call
Mallinckrodt announced that it will provide a business update and financial guidance for the fiscal year ending September 30, 2016, on an investor call on October 6, 2015. Mallinckrodt will also provide recast historical financial information reflecting the reclassification of its CMDS business to discontinued operations. The company announced plans to sell its CMDS business to Guerbet in late July 2015, with a closing expected in Q1 of FY16.
15:04 EDTMNKMallinckrodt management to meet with JPMorgan
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September 29, 2015
10:00 EDTMNKOn The Fly: Analyst Initiation Summary
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08:18 EDTMNKMallinckrodt initiated with a Neutral at Nomura
Target $100.
September 25, 2015
07:23 EDTMNKMallinckrodt estimates lowered due to Acthar competition at UBS
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