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Barclays has downgraded Endo International plc (NASDAQ:ENDP) from Equal-Weight to Underweight with a price target of $2, down from $5, on a 'difficult path.'
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- The analyst Balaji Prasad sees three headwinds for the company in 2022: lowered confidence on Qwo, weaker Xiaflex growth, consensus estimates moving lower materially following the Q1 Vaso guidance of down 30% Y/Y.
- Prasad expects estimates to move closer to his 50% decline expectation. When combined with the opioid litigation overhang and "limited positives insight," Prasad sees a "difficult path for the stock to perform."
- The company reported Q4 FY21 sales of $789.4 million, +4% Y/Y, better than the consensus of $731.4 million.
- Adjusted EPS $0.84 compared to $0.75 in Q4 FY20, beating the consensus of $0.67.
- Endo forecasted Q1 FY22 sales of $595 million - $635 million, lower than the consensus of $685.47 million.
- The company expects adjusted EPS of $0.35 - $0.45, compared to the consensus of $0.48.
- Piper Sandler also reduced the price target on Endo to $3 from $5, with an unchanged Neutral rating.
- Price Action: ENDP shares are down 5.19% at $2.29 during the market session on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.