Mallinckrodt plc (MNK) PT, Estimates Lifted at Jefferies

Jefferies analyst Anthony Petrone reiterated a Buy rating, raised estimates and boosted his price target on Mallinckrodt plc (NYSE: MNK) to $85.00 (from $77.00) following a pain survey which points to strong demand for Xartemis XR.

Petrone comments, "Key findings are: 1) Overwhelming interest in abuse-deterrent long-acting Percocet & Vicodin; 2) Price is not chief concern; 2) Efficacy in relieving pain matters more; 3) HAL studies enough to sway opinion; and 4) Tier II coverage sufficient. Outside of the survey, we revisit our QCOR accretion analysis that points to significant upside in earnings power."

The firm raised FY 2014 EPS from $2.91 to $3.42 and FY 2015 EPS from $3.46 to $3.80.

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 $73.10 yesterday.

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