DepoMed (DEPO) PT Raised to $33 at Roth Capital on Expected Higher Bid

Roth Capital analyst Scott Henry reiterated a Buy rating and bumped his price target on DepoMed Inc (NASDAQ: DEPO) to $33.00 (from $28.50), saying they expect a higher bid from Horizon Pharma (NASDAQ: HZNP).

Henry commented, "In our opinion, the most likely scenario is a higher bid emerging either from HZNP or another suitor. Our higher price target of $33/share is based on a probability analysis of different scenarios. We maintain our Buy rating."

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 $30.51 yesterday.

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