Jefferies lowers Endo price target to $31

Endo Pharmaceuticals Holdings, Inc. was reiterated by Jefferies & Co. Inc. analyst David Windley at a buy rating, but the target price was lowered to $31 from $33 after third-quarter results were reported. Jefferies said it expects Lidoderm sales to maintain growth, but a lack of penetration in the market for 80 mg oxycodone ER reduces the possibility of an earnings per share upside next year. Shares of the Chadds Ford, Pa., specialty pharmaceutical company were up $0.75, or 3.03%, at $25.50 on volume of 1,984,655 shares versus the three-month running average of 1,079,480 shares.

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