Research Alert: CFRA Maintains Hold Opinion On Shares Of Endo International Plc
01:50 PM EDT, 05/07/2021 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:
We cut our target by $1.00 to $6.00, 2.6x our '22 EPS estimate, a discount to ENDP's 10-year forward P/E average due to high leverage and ongoing opioid-related lawsuits. We lift our '21 EPS estimate by $0.18 to $2.30 to reflect the better-than-anticipated Q1 EPS. We keep our '22 EPS estimate at $2.31. Q1 EPS of $0.73 vs. $0.95 (-23% Y/Y) was $0.24 above our estimate and $0.25 above the consensus. Q1 revenue of $717M, down 12% Y/Y, was $48M above our estimate and $49M above consensus despite almost broad-based sales declines across segments. The exception was Specialty Products (SP, 20% of total, +%7 Y/Y), which performed better than our expectations due to improved growth in key drugs Xiaflex (66% of SP sales, +7% Y/Y) and Suprelin (20% of SP, +43% Y/Y). Sterile Injectable (43% of total, -8% Y/Y), Generic Pharmaceuticals (25% of total, -28% Y/Y), Established products (9% of total, -9% Y/Y) and International Pharma (3% of total, -24% Y/Y) sales continued to decline as competitive pressures intensified.