Janney Capital upgraded DepoMed Inc (NASDAQ: DEPO) from Neutral to Buy with a price target of $25.50.

Analyst Chiara Russon commented, "With DEPO opening down ~18.5% this morning, this puts our $25.50 FV squarely in the 20% upside, enough to give the name a Buy rating. We fully believe that the current market movement is an emotional overreaction. Do we know what the next two quarters will bring? No, but if you ignore the near-term noise and look to the more distant future, we believe that you will see the opportunity. Size of the pain market, promotion sensitive, differentiating features all add up to a product that screams value."

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Shares of DepoMed Inc closed at $24.41 yesterday.