BMO Capital analyst Gary Nachman kept his Outperform rating and $37 price target on Mallinckrodt, saying that in today’s investor call, the management was optimistic over its long-term outlook for its evolving specialty branded business model. The analyst says the management team is “navigating” through headwinds in Acthar and Generics, anticipating a stream of data in Acthar over the next 12-24 months. Nachman further contends that “much of the business remains underappreciated” if Acthar can achieve better stability through improved engagement and contact with payers.
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