Jefferies puts Endo at buy

Endo Pharmaceuticals Holdings, Inc. was given a buy rating by Jefferies & Co., Inc. analyst David Windley. The analyst's buy rating looks to oxymorphone ER/IR approvals and positive data from the second pivotal Frova phase 3 trial to boost the stock. Jefferies raised its price target to $33 and its 2006 and 2007 earnings per share estimates to $1.72 and $1.92, while re-including oxycodone ER in its model, based on Endo's decision to continue marketing the product. Shares of the Chadds Ford, Pa., pharmaceutical company were up 61 cents, or 2.09%, at $29.80 on volume of 2,079,321 shares versus the three-month running average of 1,590,540 shares. (Nasdaq: ENDP)

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