Zacks upgraded shares of Endo Pharmaceuticals (NASDAQ: ENDP) from an underperform rating to a neutral rating in a report issued on Tuesday. They currently have $32.00 target price on the stock.
Zacks’ analyst wrote, “Endo Health’s fourth quarter 2012 adjusted earnings of $1.62 per share beat the Zacks Consensus Estimate of $1.56. Earnings were boosted by lower costs. Revenues came in at $801 million, flat year over year. Revenues were well short of the Zacks Consensus Estimate of $808 million. The top line was hurt by lower sales of Opana ER. Endo maintained the guidance for 2013, issued by it in Jan 2013. We expect the entry of a generic competitor, Actavis, for Endo’s lead drug Lidoderm in Sep to hurt 2013 sales. Moreover, Opana ER is already facing generic competition. We believe all the negative news is already reflected in the stock price and hence revert to a Neutral recommendation on the stock. Our target price is $32.00.”
Shares of Endo Pharmaceuticals opened at 31.18 on Tuesday. Endo Pharmaceuticals has a 52 week low of $25.01 and a 52 week high of $39.29. The stock’s 50-day moving average is currently $29.41. The company’s market cap is $3.517 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet downgraded shares of Endo Pharmaceuticals from a buy rating to a hold rating in a research note to investors on Monday. Separately, analysts at Piper Jaffray downgraded shares of Endo Pharmaceuticals from a neutral rating to an underweight rating in a research note to investors on Monday, February 25th. They now have a $22.00 price target on the stock, down previously from $28.00. Finally, analysts at RBC Capital downgraded shares of Endo Pharmaceuticals from a sector perform rating to an underperform rating in a research note to investors on Thursday, February 7th. They now have a $24.00 price target on the stock, down previously from $25.00.
Nine research analysts have rated the stock with a buy rating, nine have given a hold rating, one has issued an underweight rating, and two have given a sell rating to the company’s stock. The company has a consensus rating of overweight and a consensus target price of $33.08.
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