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Endo Pharmaceuticals(ENDP - Get Report) is a specialty health care solutions company focused on branded products and generics, and devices and services. The stock is trading up 2% at $36.01 in recent trading.
Today's Volume: 2.5 million shares
Average Volume: 1.3 million shares
Volume % Change: 336%
This stock is ripping to the upside today after the Food and Drug Administration has approved a new formulation of Endo's pain drug Opana ER that is designed to be crush-resistant, which makes the drug safer and reduces the potential of abuse.
technical standpoint, ENDP has started to gap up above some
past overhead resistance at $34.89 on heavy volume. This gap up is also trigging a breakout now that shares are moving above $34.89 with volume.
Market players should watch for a close today that is near the high of the day of $36.35. If we get that action, then this stock could be setting up trend significantly higher towards $40 to $42.
Endo is one of the
top holdings at Bridgewater Associates and also shows up in
D.E. Shaw's portfolio as of the most recently reported period.