|Bid||0.00 x 800|
|Ask||0.00 x 1800|
|Day's Range||8.13 - 8.45|
|52 Week Range||8.00 - 36.65|
|Beta (3Y Monthly)||2.83|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Mallinckrodt (MNK) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Stocks have done so well nationally this year that the relatively few St. Louis companies have had a hard time keeping pace.
Shares of drug makers were getting a nice boost in premarket trading Tuesday, after AbbVie Inc.'s deal to buy Allergan PLC for a 45% premium. The SPDR S&P Pharmaceuticals ETF rallied 2.2% ahead of the open. Besides the 31% jump in Allergan's stock, among other shares seeing nice gains in the premarket, Mylan N.V. rose 2.7%, Endo International PLC climbed 4.5%, Theravance Biopharma Inc. hiked up 4.2%, Mallinckrodt PLC tacked on 2.7% and Perrigo Co. PLC gained 2.2%. Meanwhile, Medicines Co.'s stock shed 4.6%, after the company announced late Monday the public offering of $150 million worth of common stock. The pharmaceuticals ETF has lost 7.7% over the past three months through Monday, while the S&P 500 has gained 5.3%.
The federal government has secured almost $850 million in settlements from the pharmaceutical industry since a Barron’s investigation revealed how companies used charities in ways that undermined efforts to hold back skyrocketing drug prices.
Mallinckrodt Plc NYSE:MNKView full report here! Summary * ETFs holding this stock have seen outflows over the last one-month * Bearish sentiment is high * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | NegativeShort interest is extremely high for MNK with more than 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting MNK. Money flowETF/Index ownership | NegativeETF activity is negative. Over the last one-month, outflows of investor capital in ETFs holding MNK totaled $9.22 billion. Additionally, the rate of outflows appears to be accelerating. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Healthcare sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Mallinckrodt (MNK) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
The Justice Department accused Questcor in the years 2010-2014 of using a patient charity as a means of improperly subsidizing Medicare copayments in order to continue raising prices of H.P. Acthar gel, according to Reuters.
Shares of Mallinckrodt PLC dropped 2.4% in afternoon trade Wednesday, after the biopharmaceutical company said it reached an agreement in principle with the U.D. Department of Justice to resolve the investigation into the legacy sales and marketing activities of Questcor, which Mallinckrodt acquired in August 2014. Mallinckrodt expects to pay $15.4 million in the settlement, which will not contain any admission of wrongdoing. Meanwhile, the company intends to "vigorously defend" itself against any wrongdoing, with respect to the DOJ's newly filed allegations that Questcor's charitable activities between 2010 and 2014 violated the False Claims Act and the Anti-Kickback Statute. The stock has tumbled 58% over the past three months, while the S&P 500 has gained 1.1%.
PiperJaffray analyst David Amsellem downgraded the company from Overweight to Neutral, writing that developments last week had blown his bull thesis “to smithereens.”
Cara (CARA) reports positive top-line data from phase III study of Korsuva injection in hemodialysis patients with moderate-to-severe chronic kidney disease-related pruritus.
The company had said in December it was open to a sale of the generics business or would spin it off in the second half of 2019. It had said Amitiza would be part of the spun-off unit. Shares of Mallinckrodt were down 6.3% in noon trading, as concerns related to its Acthar gel continued to weigh on the stock.
The stock was rising 5.49% in premarket trading, only to fall 1.77% to $9.44 in regular hours. Mallinckrodt will focus on specialty branded pharmaceuticals while Sonorant will focus on specialty generic products and APIs1 manufacturing. "I am very pleased with the highly experienced management team we have assembled," said Matthew Harbaugh, president of Mallinckrodt's specialty generics business.
Mallinckrodt Plc said on Tuesday it would spin-off its specialty generics unit and rename the remaining specialty branded drugs business to Sonorant Therapeutics Plc. Sonorant will keep constipation medicine Amitiza, Mallinckrodt said. The company had said in December it was open to a sale of the generics business or would spin it off in second half of 2019.
Mallinckrodt (MNK) declines after filing suit against HHS and CMS for the protection of Medicaid patient access to Acthar.
Mallinckrodt PLC (NYSE: MNK) announced Tuesday that it filed a lawsuit against the Department of Health and Human Services and Centers for Medicare and Medicaid Services, challenging the federal government's decision to have the company change the base date average manufacturer price used to calculate Medicaid drug rebates for Acthar gel. The news of the lawsuit is disappointing, as it could potentially eliminate Acthar's Medicaid sales, Nachman said in a Tuesday note.
The drugmaker is facing headwinds from opioid lawsuits and a decision by the federal government to cut reimbursements for a key product.
Mallinckrodt PLC shares tumbles after the drug company says it has filed suit against the U.S. Department of Health and Human Services and Centers for Medicare and Medicaid Services to protect Medicaid patient access to its Acthar gel.