Auriga Starts DepoMed (DEPO) at Buy; Proven Drug Delivery Technology
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Price: $7.30 --0%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
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Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Auriga initiates coverage on DepoMed (NASDAQ: DEPO) with a Buy. PT $10.00.
Auriga analyst says, "The company's Acuform technology is a proprietary polymeric drug delivery system that allows multi-hour delivery of an incorporated drug. The company gained FDA approval on Glumetza (metformin HCl extended release tablets), Proquin XR (ciprofloxacin hydrochloride) and Gralise (Gabapentin), which proved the technology's viability. The technology platform is further validated by the licensing agreements between Depomed and several large pharmaceutical companies. The company is expected to launch Gralise next month and announce results from on-going Serada phase III programs before the year end. We expect the company turn profitable in 2013."
For more ratings news on DepoMed click here and for the rating history of DepoMed click here.
Shares of DepoMed closed at $5.46 yesterday.
Auriga analyst says, "The company's Acuform technology is a proprietary polymeric drug delivery system that allows multi-hour delivery of an incorporated drug. The company gained FDA approval on Glumetza (metformin HCl extended release tablets), Proquin XR (ciprofloxacin hydrochloride) and Gralise (Gabapentin), which proved the technology's viability. The technology platform is further validated by the licensing agreements between Depomed and several large pharmaceutical companies. The company is expected to launch Gralise next month and announce results from on-going Serada phase III programs before the year end. We expect the company turn profitable in 2013."
For more ratings news on DepoMed click here and for the rating history of DepoMed click here.
Shares of DepoMed closed at $5.46 yesterday.
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