Mallinckrodt (MNK) Stock Spikes in Pre-Market Trading Following Earnings Beat - TheStreet

NEW YORK (TheStreet) -- Shares of Mallinckrodt Plc (MNK) - Get Report are up by 7.64% to $65.66 in pre-market trading on Monday, following the release of the company's 2015 fourth quarter earnings results before the opening bell today.

The British specialty pharmaceuticals company reported fourth quarter net income of $75.2 million, after reporting a loss for the year ago period.

The company earned $1.84 per share on an adjusted basis, topping analysts' at Zacks expectations of earnings of $1.74 per share for the most recent quarter.

Revenue for the period rose by 31% year over year to $882.4 million versus analysts' consensus $869.41 million expectations.

Separately, TheStreet Ratings team rates MALLINCKRODT PLC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

We rate MALLINCKRODT PLC (MNK) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, generally disappointing historical performance in the stock itself and generally high debt management risk.

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.