Mallinckrodt plc (MNK) as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company as the stock is now down 3.79% in the past one-month time frame.
Mallinckrodt witnessed 3 positive estimate revisions over the past 30 days. The Zacks Consensus Estimate also moved up over the same time frame, suggesting that more solid trading could be ahead for Mallinckrodt. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can turn into more strength down the road.
Mallinckrodt sports a Zacks Rank #1 (Strong Buy), while its Earnings ESP is 0.00%.
Investors interested in the med-generic drug industry may also consider stocks like Dr. Reddy's Laboratories Ltd. (RDY), Actavis plc (ACT) and Impax Laboratories Inc. (IPXL). While Dr. Reddy's sports a Zacks Rank #1, Actavis and Impax Laboratories hold a Zacks Rank #2 (Buy).
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