Endo International plc (NASDAQ:ENDP) announced that one of its operating companies, Par Pharmaceutical has received final approval from the U.S. Food and Drug Administration for its New Drug Application for ephedrine sulfate injection, a drug administered parenterally as a pressor agent to address clinically important hypotension in surgical settings. According to IMS Health data, U.S. sales of ephedrine sulfate injection products were approximately $177 million for the 12 months ended November 30, 2016.
Ephedrine sulfate for injection is packaged in cartons of twenty-five 50mg/mL, 1mL single use vials. Par expects to start shipping the product in February 2017.
Shares of Endo International are up 1.35% to $11.97 in pre-market trading. ENDP has a 1-year high of $56.98 and a 1-year low of $11.37. The stock’s 50-day moving average is $14.75 and its 200-day moving average is $18.18.
On the ratings front, ENDP has been the subject of a number of recent research reports. In a report released today, RBC analyst Randall Stanicky reiterated a Hold rating on ENDP, with a price target of $15, which implies an upside of 27% from current levels. Separately, on January 27, Piper Jaffray’s David Amsellem reiterated a Hold rating on the stock and has a price target of $12.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Randall Stanicky and David Amsellem have a yearly average loss of -4.8% and -6.0% respectively. Stanicky has a success rate of 39% and is ranked #4015 out of 4378 analysts, while Amsellem has a success rate of 40% and is ranked #4125.
Sentiment on the street is mostly neutral on ENDP stock. Out of 9 analysts who cover the stock, 7 suggest a Hold rating and 2 recommend to Buy the stock. The 12-month average price target assigned to the stock is $22.50, which implies an upside of 91% from current levels.
Endo International Plc operates as a pharmaceutical company. It focuses on developing, manufacturing, and distributing of branded and generic pharmaceutical products.