Piper Jaffray Reiterates Overweight on Endo Pharmaceuticals

Piper Jaffray is out with its report today on Endo Pharmaceuticals ENDP, reiterating Overweight. In its report, Piper Jaffray writes, "We believe that ENDP shares are valued attractively at trough annual operating cash flows (i.e., inclusive of the impact of generics on Opana ER and Lidoderm) of at least $450M and a market cap of under $4B. We reiterate our Overweight rating and a $46 price target." Shares of ENDP closed Friday at $30.61, up 1.76% from Thursday's close.