B.Riley FBR analyst David Buck maintained a Buy rating on Endo International (NASDAQ: ENDP) yesterday and set a price target of $13. The company’s shares opened today at $11.17.
Buck commented:
“We continue to recommend Buy-rated Endo International (ENDP) shares and we reiterate our $13 per share price target. We highlighted ENDP shares as a Top Five pick for 2H 2018 and our view remains that the company is an attractive turn-around candidate and beneficiary of stabilized generic pricing. We do not see recent FDA approval of a competitor for a strength of Adrenalin, a growth product, as changing this thesis. FDA has recently-approved Daiichi’s (Luitpold US generic division) generic version of 1ml IM injection strength. Adrenalin is a growth product within Branded Sterile Injectables which for 2018 should be $853.9 million up 13.8% Y/Y and representing ~31% of total 2018E ENDP revenues at high- margins.”
According to TipRanks.com, Buck is a 4-star analyst with an average return of 17.4% and a 72.6% success rate. Buck covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics Inc, Spectrum Pharmaceuticals, and Supernus Pharmaceuticals.
Endo International has an analyst consensus of Moderate Buy, with a price target consensus of $8.80, representing a -21.2% downside. In a report issued on June 27, Citigroup also upgraded the stock to Buy with a $11 price target.
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The company has a one-year high of $12.54 and a one-year low of $5.27. Currently, Endo International has an average volume of 6.28M.
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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.
