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- Endo International plc – Ordinary Shares (NASDAQ: ENDP) are down 15 percent year-to-date, despite touching a high of $95.92 on April 15.
- Deutsche Bank’s Gregg Gilbert reinstated a Buy rating on the company, with a price target of $88.
- Improving performance of the base business and acquisition of Par Pharmaceutical bode well for the stock, Gilbert stated.
Analyst Gregg Gilbert mentioned that the recently completed $8 billion acquisition of Par Pharmaceutical Companies, Inc. (NYSE: PRX) provides Endo with a strong generics business with above-average growth and gross margins.
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The acquisition will also expand and diversify Endo’s generics pipeline with “lucrative first-to-file (FTF) and first-to-market (FTM) opportunities,” Gilbert added.
The merged entity’s strong cash generation capabilities and a large generics portfolio position it for growth. Gilbert added, however, that integration and de-leveraging are expected to remain its priorities in the near term.
Gilbert mentioned that Par Pharmaceutical has a strong track record of quality. Another positive of this acquisition is the addition of Par Pharmaceutical’s highly experienced CEO Paul Campanelli.
The new entity is expected to record pro forma generics revenue growth of 11 percent in 2016 and 15 percent in 2017. The improving performance of Endo’s base business coupled with the successful acquisition and the potential for additional transactions bode well for the stock, the Deutsche Bank report stated.
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.