In a report released today, Dewey Steadman from Canaccord Genuity maintained a Hold rating on Endo International (NASDAQ: ENDP), with a price target of $13. The company’s shares opened today at $15.09.
Steadman said:
“We view Athenex’s compounded vasopressin launch today as more headline risk than an actual financial hit to Endo’s near-term results. We expect Endo to restart litigation with FDA regarding compounding guidance and we’d also expect patent litigation against Athenex that could potentially enjoin sales of the compounded product. While ENDP shares have had strong momentum of late, we remain concerned that little events like these – along with broader opioid and product litigation – could dent that momentum. As such, we maintain our HOLD rating on ENDP shares.”
According to TipRanks.com, Steadman is a 3-star analyst with an average return of 3.6% and a 40.2% success rate. Steadman covers the Healthcare sector, focusing on stocks such as ANI Pharmaceuticals Inc, Pacira Pharmaceuticals, and Perrigo Company plc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Endo International with a $15.77 average price target, representing a 4.5% upside. In a report issued on August 8, Cantor Fitzgerald also maintained a Hold rating on the stock with a $12 price target.
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Based on Endo International’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $60.87 million. In comparison, last year the company had a GAAP net loss of $1.4 billion.
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Endo International Plc operates as a pharmaceutical company. It focuses on developing, manufacturing, and distributing of branded and generic pharmaceutical products. The company operates through the following segments: U.S. Branded Pharmaceuticals, U.S. Generic pharmaceuticals and International Pharmaceuticals.
