Break through $35.50 makes Endo Pharmaceuticals a good buy for traders and investors

Endo Pharmaceuticals (NASDAQ:ENDP) — This specialty pharma company develops branded and generic prescription drugs used primarily to treat and manage pain and urologic disorders.

Its recent acquisitions led fundamental analysts to project a 17% increase in revenues for 2012. And its entry into new therapeutic areas will benefit the company in the future.

ENDP is estimated to have earned $4.62 in 2011, and expects to earn $5.42 in 2012. S&P gives a price target of $46 based on 8.5 times their 2012 estimate.

Technically the stock is forming a cup-and-handle bullish formation. A breakout through $35.50 gives a target of $42. But longer term, the stock could go much higher, thus ENDP is recommended for traders as well as investors.