Guggenheim analyst Rohit Vanjani maintained a Hold rating on Endo International (NASDAQ: ENDP) on June 12. The company’s shares closed yesterday at $8.88.
Vanjani observed:
“We maintain our NEUTRAL rating. Settlement Details: ENDP entered into a definitive master settlement agreement for the resolution of all known testosterone replacement therapy (TRT) product liability claims. The one-time deposit into a qualified settlement fund WILL NOT increase ENDP’s product liability reserve. As a reminder, in 1Q18, ENDP provided guidance of $140M in non-mesh settlement payments for FY2018, of which ~$60M was attributed to the Lidoderm antitrust matter, and presumably the remaining ~$80M for the TRT multi-district litigation (MDL) payments. Management indicated that a total of $100M would be paid for the Lidoderm matter with ~$60M paid in 2018, ~$30M in 2019, and the remaining ~$10M in 2020. With the TRT agreement, we now know that the ~$80M reserve is enough for the participating claimants to release their claims.”
According to TipRanks.com, Vanjani is a 4-star analyst with an average return of 10.6% and a 50.7% success rate. Vanjani covers the Healthcare sector, focusing on stocks such as Sienna Biopharmaceuticals Inc, Menlo Therapeutics Inc, and Revance Therapeutics.
Endo International has an analyst consensus of Moderate Buy, with a price target consensus of $8.20.
See today’s analyst top recommended stocks >>
Based on Endo International’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $505 million. In comparison, last year the company had a GAAP net loss of $174 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
Read More on ENDP:
