Market Overview

Endo International Piques Investor Interest After Raising Guidance

Share:
Endo International Piques Investor Interest After Raising Guidance
Related ENDP
Benzinga's Top Upgrades, Downgrades For November 9, 2018
80 Biggest Movers From Yesterday
Managers Of This Fund Like The Outlook For Small-Cap Stocks (Investor's Business Daily)

Shares of Endo International plc (NASDAQ: ENDP) traded as high as $6.94 Monday morning, but gave up some of the gains by the afternoon. The stock was still higher by more than 5 percent in reaction to the company's preliminary third-quarter results.

Endo said on Monday it expects to report earnings of 85 cents per share in the third quarter on revenue of $785 million. Wall Street analysts were expecting the company to earn 66 cents per share on revenue of $784 million -- implying a top and bottom line beat is in store.

Endo also guided its full year fiscal 2017 sales to be in a range of $3.38 billion to $3.53 billion and earn $3.35 to $3.65 per share. This compares to Wall Street's current expectations of $3.47 billion and $3.52 per share.

See Also: 22 Stocks To Watch After President Trump Declares Opioid Epidemic A National Health Emergency

Endo's stock is no stranger from high volatility and wild daily swings. Shares of the generics and specialty branded pharmaceutical company lost more than 14 percent on Friday after the company initiated a lawsuit against the U.S. Food and Drug Administration. The company will be asking a court to declare the FDA's current bulk compounding norms to be unlawful.

Nearly 14 million shares of Endo changed hands by early Monday afternoon, which is unusually large compared to the average total daily trading volume of just 5.39 million shares.

The company will officially release its third-quarter earnings report on Nov. 9.

Posted-In: Generic drugs Momentum StocksNews Guidance Small Cap Movers Trading Ideas Best of Benzinga

 

Related Articles (ENDP)

View Comments and Join the Discussion!

Amid Release Of JFK Files, Majority Of Americans Believe There Was A Conspiracy

Toys R Us Blamed For Toy Stocks' Tepid Q3 Performances