Leerink Swann Upgrades Endo Pharma (ENDP) to Outperform
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Price: $0.29 --0%
Rating Summary:
14 Buy, 15 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 15 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Leerink Swann upgraded Endo Pharmaceuticals Holdings Inc (NASDAQ: ENDP) from Market Perform to Outperform with a modified price target of $48 (from $37). Analyst Michael Schmidt said he thinks guidance is now achievable since expectations have come down.
"We believe ENDP's new 2013 adjusted EPS guidance of $4.10-$4.40 is achievable since it now accounts for the launch of multiple generic Opana ER formulations in 2H:13 and lower expectations for AMS. At the same time, we believe mgmt's announced restructuring to form a more efficient, leaner operating structure will form the platform for accretive product acquisitions. Based on our estimates, we believe that if ENDP only needs to acquire $300MM in revenue in 2014 it will achieve EPS growth in a base-case scenario that we believe is attainable," said Schmidt.
For an analyst ratings summary and ratings history on Endo Pharmaceuticals Holdings Inc (NASDAQ: ENDP) click here. For more ratings news on Endo Pharmaceuticals Holdings Inc click here.
Shares of Endo Pharmaceuticals Holdings Inc closed at $35.96 yesterday.
"We believe ENDP's new 2013 adjusted EPS guidance of $4.10-$4.40 is achievable since it now accounts for the launch of multiple generic Opana ER formulations in 2H:13 and lower expectations for AMS. At the same time, we believe mgmt's announced restructuring to form a more efficient, leaner operating structure will form the platform for accretive product acquisitions. Based on our estimates, we believe that if ENDP only needs to acquire $300MM in revenue in 2014 it will achieve EPS growth in a base-case scenario that we believe is attainable," said Schmidt.
For an analyst ratings summary and ratings history on Endo Pharmaceuticals Holdings Inc (NASDAQ: ENDP) click here. For more ratings news on Endo Pharmaceuticals Holdings Inc click here.
Shares of Endo Pharmaceuticals Holdings Inc closed at $35.96 yesterday.
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