Endo Pharmaceuticals (ENDP) Weakness is a Buying Opportunity, Piper Jaffray Says

Piper Jaffray analyst David Amsellem reiterated an Overweight rating and $84 price target on Endo Pharmaceuticals Holdings Inc (NASDAQ: ENDP) saying the recent weakness creates an attractive entry point.

Amsellem commented, "The recent weakness in Endo shares in our view represents an attractive buying opportunity with the shares now trading at only 11x our 2016 pro forma (PF) diluted EPS estimate of $5.86 (reflecting the impact of Auxilium). We believe that concerns over the durability of key assets are largely overblown. For instance, we would keep in mind that we are seeing continued volume growth for ENDP/AUXL's non-gel testosterone (T) products, offsetting any potential further headwinds for the T gel segment (though to be clear, we believe the gel business has most likely bottomed). We continue to believe that with the addition of AUXL, visibility on at least a low double-digit long-term EPS CAGR for ENDP is strong (i.e., driven by Xiaflex and the broader generics business)."

For an analyst ratings summary and ratings history on Endo Pharmaceuticals Holdings Inc click here. For more ratings news on Endo Pharmaceuticals Holdings Inc click here.

Shares of Endo Pharmaceuticals Holdings Inc closed at $61.45 yesterday.

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