ENDP Stock Still Getting Crushed
Analysts at Mizuho are out with a report this morning upgrading shares of Endo International plc (ENDP) with a ‘Neutral’ from ‘Underperform’ rating. The firm raised its price target for ENDP stock to $16 from $13, noting that an outright sale of the Dublin, Ireland-based specialty pharmaceutical company seems unlikely, and that the most likely path forward may require selective divestitures and de-levering.
Last month, Endo’s management revealed disturbing revisions of its 2016 full-year estimates, causing the stock to nosedive by more than 41%. When the company reported Q1 results on May 5, it revised its EPS outlook to between $0.25 and $0.55 per share, 80 percent lower from the $2.25 – $2.60 range it had previously guided.
Price Action
Endo I’ntl shares have plunged more than 73% this year and are continuing their downward trend. The name closed down 1.52 points, or 8.44%, at $16.48 with more than 11 million shares traded on Friday. Ticker ranged in a price between $16.40-$17.87 after having opened the day at $17.72 as compared to the previous trading day’s close of $18. Shares ended Friday’s Nasdaq session in the red, extending their year-over-year loss to nearly 80 percent.
So far this morning, ENDP is indicated up 0.42% and now stands 32% higher off its 52-week low of $12.56 per share.
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