Depomed (DEPO): August Prescription Data Tracking At High End Of Estimates - Janney
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Janney Montgomery Scott analyst, Ken Trbovich, reiterated his Buy rating on shares of DepoMed Inc (NASDAQ: DEPO), as Symphony Reported retail prescriptions for the majority of DEPO's products were stronger in August than anticipated. The analyst believes Q2 is tracking to the high end of guidance or above. Summer months are typically more challenging for controlled substance prescriptions due to physician holidays (i.e. patient must receive a written Rx each month for Schedule 2 drugs), but there were more working days in August 2016 (23) than 2015 (21).
Nucynta prescriptions showed nice growth (IR up 5% and ER up 24%) compared to August 2015.
Gralise, which is DEPO's third largest product, has shown signs of improvement after four months of flat-to-negative month over prior-year month comparisons. Prescriptions in August were 3% higher than last year.
Lazanda, met expectations but management's comments at an investor conference earlier this week suggest the performance was even better.
Another possible catalyst worth restating is that Starboard's deadline for delivering special meeting request (intended by Starboard to replace the current board) is this Friday, (September 16, 2016).
price target of $28.00
Shares of DepoMed Inc closed at $21.38 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Depomed (DEPO) 'Clearly' on Purdue Pharma Radar - Bloomberg
- BMO Capital Remains Bullish on Duluth Holdings Inc. (DLTH) Following 3Q Report
- Jefferies Raises Price Target on Broadcom Ltd. (AVGO) to $210 Following 4Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesJanney Montgomery Scott
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!