Depomed (DEPO): Handicapping The District Court Ruling Impact - Janney
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Janney Montgomery Scott analyst, Ken Trbovich, reiterated his Buy rating on shares of DepoMed Inc (NASDAQ: DEPO) ahead of the District Court decision, which is expected on, or before, Sep. 30th.
The analyst believes that the market is factoring in wins on patents that protect the Nucynta franchise through 2025. His DCF model suggests upside to the range of $27-$30 if DEPO secures a win on the 2028 use patent for Nucynta ER. Beyond the IP for Nucynta, the analyst believes that further value could come from ongoing patent litigation with Purdue, development of cebranopadol, and the initiation of formal sale process that may result from Starboard Value Fund's efforts to replace DEPO's existing Board.
No change to the $28 PT in anticipation of a positive decision—protecting Nucynta through at least 2025—from the District Court by the end of the week.
Shares of DepoMed Inc closed at $24.53 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Litigation
Related EntitiesJanney Montgomery Scott, Starboard Value
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