Endo Pharmaceuticals shares rise (NASDAQ:ENDP)
It was a good Monday morning for Endo Pharmaceutical Holdings Inc as their shares rise in the stock market after an analysts upgraded the stock predicting better third quarter and full year results for Endo. The shares of Endo Pharmaceutical had been down for last few days but the stocks jumped up substantially after the upgrade was done and it provided great boost to the Endo Pharmaceuticals to make sure that they perform better and come out with good results in the near future too.
Analysts John Newman changed his rating for the Endo Pharmaceutical Holdings to Outperform and had set the price target of $27 per share. Newman has further stated that Endo Pharmaceutical will surely exceed the profit expectations of Wall Street once their testosterone injection Fortesta will be approved later in this month. He further stated that once Fortesta is released and approved, Endo Pharmaceutical will earn a profit of 65 cents per share, which is comparatively more than what the Wall Street is expecting from Endo at the moment.
In the midday trading share prices of Endo went up $1.59, or 7.2 percent, to $23.70. Generally the shares of Endo Pharmaceutical would trade between $13.87 to $26.14. Many analysts predict that Endo will earn a profit of $2.70 per share by next year.
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