Endo Pharmaceuticals Holdings (ENDP) NewsBite - ENDP Withdraws Frova Application

Posted on Wednesday, April 09, 2008 2:45 PM

Endo Pharmaceuticals Holdings Inc. (ENDP) opened at 25.14. So far today, the stock has hit a low of 24.61 and a high of 25.18. ENDP is now trading at 24.96, down 0.04 (-0.16%). The stock hit its 52 week high of 35.85 in June and set its 52 week low of 22.62 in March. ENDP has been slipping since the month of July of last year. Endo Pharmaceuticals, a wholly owned subsidiary of Endo Pharmaceuticals Holdings, today announced that it has notified the U.S. Food and Drug Administration of the withdrawal of supplemental new drug Frova used for the acute treatment of migraine. Technical indicators for the stock are neutral and improving while S&P gives ENDP a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a July bear-call credit spread above the $30 range. ENDP stock could rise up to 20.2% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]