Mizuho Securities Upgrades DepoMed Inc (DEPO) to Buy

November 9, 2016 6:14 AM EST
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Price: $18.48 +0.11%

Rating Summary:
    10 Buy, 4 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Mizuho Securities upgraded DepoMed Inc (NASDAQ: DEPO) from Neutral to Buy with a price target of $24.00 (from $27.00) following the sell-off, saying they believe a deal will happen.

Analyst Irina Koffler commented, "We upgrade DEPO to Buy after the large sell-off. We still think a deal process could be underway, and the wholesaler/rebate issues should not derail this event. However, we think DEPO could be somewhat devalued by a more negative outlook on future Nucynta discounts. We lower PT to $24 from $27 based on lower Nucynta and lower sales multiples in a potential deal."

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 $19.01 yesterday.

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