This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Endo Pharma: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Endo Pharmaceuticals (ENDP - Get Report) rose in extended action late Wednesday after the Chadds Ford, Pa.-based drug developer received regulatory approval for its Fortesta gel product for the treatment of men with low testosterone.

The Food and Drug Administration approved Fortesta as a Class III product for topical use, and Endo expects to launch the product in the United States in early 2011.



The stock was last quoted at $36.71, up 4.2%, according to Nasdaq.com, although trading was light at around 10,000 shares. The issue's trailing three-month daily average volume is around 1.5 million. Based on a regular session close at $35.22, the shares have appreciated by more than 70% in 2010.

Endo estimates nearly 14 million men in the United States have low testosterone and that roughly 1.3 million, or 9%, are being treated for the condition.

Of the 25 analysts covering Endo's stock, eight rate it at strong buy, five at buy and 12 are at hold. Wall Street's median 12-month price target is $40, implying upside of more than 13% from current levels.

The current average estimate of analysts polled by Thomson Reuters is for Endo to earn 94 cents a share on revenue of $461.1 million in the current quarter ending this month. That performance would be above its profit of 86 cents a share on revenue of $444.1 million in the September-ended quarter.

Duncan Williams Inc., a Memphis, Tenn.-based investment banking firm, reiterated a strong buy rating on Endo's stock on Wednesday ahead of the news. The firm said it's modeling for 2011 sales of $14 million for Fortesta, and that it sees a "difficult reimbursement environment" for the product, as well as competitive pressures from "the overlapping launch" of Eli Lilly's (LLY) Axiron.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
ENDP $86.26 1.40%
AAPL $128.71 -0.19%
FB $78.73 -0.33%
GOOG $540.43 0.47%
TSLA $230.03 1.80%

Markets

DOW 18,070.47 +46.41 0.26%
S&P 500 2,114.39 +6.10 0.29%
NASDAQ 5,017.95 +12.5590 0.25%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs