Mallinckrodt (MNK): Analyst Day Takeaways - Jefferies

Jefferies analyst, Anthony Petrone, reiterated his Buy rating on shares of Mallinckrodt plc (NYSE: MNK) after attending the company's analyst day. He sees the key takeaways as:

1) R&D portfolio now has 12 development projects capable of driving $1.0bn+ in peak sales

2) Acthar durability intact with potential royalty deal being explored

3) INOMAX competitive risk still unclear while Canadian precedent points toward stability

4) All strategic options for shareholder value creation remain under review.

The analyst stated: "body language seemed to suggest that a potential sale of generics/API was in the cards at some point but with no sense of immediate urgency considering a still favorable cash profile. Beyond deploying cash toward transactions, capital will continue to be deployed toward opportunistic debt and share buybacks".

No change to the price target of $60.

For an analyst ratings summary and ratings history on Mallinckrodt plc click here. For more ratings news on Mallinckrodt plc click here.

Shares of Mallinckrodt plc closed at $37.36 yesterday.

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