Mallinckrodt (MNK) Valuation Range, Estimates Cut at Wells Fargo on Methyphenidate ER Issue
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Wells Fargo analyst David Maris lowered his valuation range on Mallinckrodt plc (NYSE: MNK) from $88-$89 to $83-$84 after the the FDA announced a proposal to withdraw approval of an ANDA for methylphenidate hydrochloride (HCl) extended-release (ER) tablets.
The firm lowered Q4 estimate by $0.04 from $1.90 to $1.86 based on the assumption MNK's generic methylphenidate ER is pulled from the market this quarter. In addition, they reduced 2017 estimate by $0.50 from $8.25 to $7.75.
The firm maintained an Outperform rating.
Shares of Mallinckrodt plc closed at $64.96 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesWells Fargo, David Maris
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