Piper Jaffray Upgrades Endo Pharmaceuticals Holdings Inc (ENDP) to Overweight

Piper Jaffray upgraded Endo Pharmaceuticals Holdings Inc (NASDAQ: ENDP) from Neutral to Overweight with a price target of $84.00 (from $70.00) following the deal to acquire Auxilium (NASDAQ: AUXL).

Analyst David Amsellem commented, "We believe that the addition of AUXL provides ENDP with even greater visibility on a double-digit longer-term earnings growth trajectory, given our view that the worst is over regarding the weakness associated with AUXL's testosterone (T) franchise, and given the strong visibility on the continued ramp of Xiaflex and Stendra. Given that backdrop, along with 2016 proforma (PF) diluted EPS potentially near $6, ENDP shares, at a current 2016 P/E of only 11x, are trading at an attractive risk/reward in our view (with additional commercial-stage M&A a wild card, and a question of when and not
if)."

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 $66.78 yesterday.

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