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Morgan Stanley Remains Sidelined on Endo International plc – Ordinary Shares (ENDP); Here’s Why


Morgan Stanley analyst David Risinger provides insight on shares of Endo International plc – Ordinary Shares (NASDAQ:ENDP), assessing a deeper look into its pipeline businesses for cholesterol drug Zetia and schizophrenia, bipolar disorder, and major depressive disorder-treating drug Seroquel, which the analyst calculates account for $300 million in revenues for 2016.

In light of his research, Risinger reiterates an Equal Weight rating on shares of ENDP, while slighting boosting the price target from $15 to $16, which represents a nearly 23% downside from where the stock is currently trading.

A key risk Risinger outlines for the biotech giant is whether consensus is setting Endo up for an EPS shortfall. The analyst points out, “Ultimately, we believe consensus’ +28% “base” EPS growth in 2018 will be difficult to achieve.”

Though Risinger positively anticipates 25 to 30 launches in the works for 2017 for the...