Mizuho Securities Downgrades DepoMed Inc (DEPO) to Neutral

October 4, 2016 6:24 AM EDT
Get Alerts DEPO Hot Sheet
Price: $18.06 -2.27%

Rating Summary:
    10 Buy, 4 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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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."

For an analyst ratings summary and ratings history on DepoMed Inc click here. For more ratings news on DepoMed Inc click here.

Shares of DepoMed Inc closed at $25.58 yesterday.

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