Endo International plc – Ordinary Shares (NASDAQ:ENDP) announced that one of its operating companies, Par Pharmaceutical, has begun shipping four dosage strengths (50 mg, 150 mg, 200 mg and 300 mg) of quetiapine fumarate extended release (ER) tablets, the generic version of AstraZeneca’s SEROQUEL XR®. As marketer and distributor of the product, Par will have 180 days of marketing exclusivity for these four strengths and will share profits with its partners Handa Pharmaceuticals, Inc. and Deerfield Generics, L.P., a portfolio company of Deerfield Management Company, L.P.
SEROQUEL XR® is a once-daily tablet approved in adults for add-on treatment to an antidepressant for patients with major depressive disorder (MDD) who did not have an adequate response to antidepressant therapy; acute depressive episodes in bipolar disorder; acute manic or mixed episodes in bipolar disorder alone or with lithium or divalproex; long-term treatment of bipolar disorder with lithium or divalproex; and schizophrenia.
According to IMS Health data, U.S. sales of SEROQUEL XR® for the four dosage strengths to be marketed by Par are approximately $911 million for the 12 months ended September 30, 2016. (Original Source)
Shares of Endo closed yesterday at $18.75, down $0.82 or -4.19%. ENDP has a 1-year high of $63.71 and a 1-year low of $12.56. The stock’s 50-day moving average is $20.66 and its 200-day moving average is $19.73.
On the ratings front, Endo has been the subject of a number of recent research reports. In a report issued on October 14, Guggenheim analyst Louise Chen reiterated a Buy rating on ENDP, with a price target of $35, which represents a potential upside of 87% from where the stock is currently trading. Separately, on September 29, Northland Securities’ David Buck upgraded the stock to Buy and has a price target of $27.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Louise Chen and David Buck have a yearly average loss of 17.2% and a return of 20.5% respectively. Chen has a success rate of 27% and is ranked #4012 out of 4178 analysts, while Buck has a success rate of 72% and is ranked #308.
Overall, 5 research analysts have assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $26.00 which is 38.7% above where the stock closed yesterday.
Endo International Plc operates as a pharmaceutical company. It focuses on developing, manufacturing, and distributing of branded and generic pharmaceutical products. It operates through the following segments U.S. Branded Pharmaceuticals, U.S. Generic pharmaceuticals, Devices, and International Pharmaceuticals. The U.S. Branded Pharmaceuticals offers products that focus on the treatment and management of conditions in urology, urologic oncology, endocrinology, and orthopedics. The U.S. Generic pharmaceuticals segment consist of a differentiated product portfolio including high-barrier-to-entry products, first-to-file or first-to-market opportunities that are difficult to formulate, difficult to manufacture or face complex legal and regulatory challenges. The Devices segment offers medical devices that deliver innovative medical technology solutions to physicians treating female incontinence and pelvic floor repair. The International Pharmaceuticals segment includes a variety of pharmaceutical products for the Canadian, Latin American, South African, and world markets.