Mizuho Securities Downgrades DepoMed Inc (DEPO) to Neutral
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Mizuho Securities downgraded DepoMed Inc (NASDAQ: DEPO) from Outperform to Neutral with a price target of $27.00 following recent outperformance.
Analyst Irina Koffler commented, "We downgrade to Neutral and reiterate our blended $27 PT as we think that valuation has gotten too rich for new buyers after a favorable Nucynta litigation outcome. We continue to view a takeout at $29 as the most likely outcome for DEPO but believe the upside is relatively limited from here."
Shares of DepoMed Inc closed at $25.58 yesterday.
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