Mizuho Securities Raises Price Target on Depomed (DEPO) Following Starboard's Activism Announcement; Reiterates Neutral

Janney Notes Strong Nucynta Rx Trends for March; Affirms DepoMed (DEPO) at 'Buy'

Janney affirms DepoMed (Nasdaq: DEPO) at Buy with a fair value estimate of $28 following a check on recent prescription trends

Analyst Ken Trbovich noted that Nucynta ER prescription growth was 23 percent for March, which came in ahead of the firm's expectations. The analyst... More

Starboard urges Depomed board to pursue a potential sale

(Reuters) - Activist investor Starboard Value LP, which has an economic stake of 9.8 percent in Depomed Inc (NASDAQ: DEPO), in a letter criticized the drugmaker's board over corporate governance deficiencies and other matters and urged it to explore a potential sale.

Depomed's shares were up 11.6 percent at $16.71 in morning trading on Friday.

In the letter addressed to the Depomed board, Starboard raised concerns regarding the company's "corporate governance deficiencies, questionable... More

Pre-Open Stock Movers 04/08: (AFOP) (DEPO) (AVXL) Higher; (VKTX) (SEAC) (RT) Lower (more...)

Today's pre-open movers:

Viking Therapeutics, Inc. (NASDAQ: VKTX) 39.9% LOWER; announced the pricing of an underwritten public offering of 7,500,000 shares of its common stock and warrants to purchase up to 7,500,000 shares of its common stock at a public offering price of $1.25 per share of common stock and related warrant

SeaChange Int'l (NASDAQ: SEAC) 21.2%... More

Depomed (DEPO) Comments on Starboard Value Stake; Recommends Shareholders Take no Action

Depomed, Inc. (Nasdaq: DEPO) issued the following statement in response to the Schedule 13D filed April 7 with the Securities and Exchange Commission by Starboard Value LP:

Depomed welcomes open communications with its shareholders and values constructive input toward... More

Depomed (DEPO) Attracts Activists - Mizuho

Mizuho analyst, Irina Koffler, noted that activist fund, Starboard Value, has disclosed a 6.8% stake in DepoMed Inc (NASDAQ: DEPO) (but has economic exposure to 9.8% of the outstanding shares). In its 13-D filing, Starboard makes a number of allegations, including: 1) Depomed has serious corporate governance deficiencies; 2) its Board took egregious actions to impede strategic interest from acquiring the company; 3)... More

After-Hours Stock Movers 04/07: (ICPT) (DLTH) (DEPO) Higher; (DRRX) (RT) (GPS) Lower (more...)

Today's after-hours movers:

DURECT Corporation (Nasdaq: DRRX) 21% LOWER; announced that after the PERSIST Phase 3 trial for POSIMIR® was underway and enrolling patients at multiple sites, the Company received a letter from FDA advising the Company to make a number of amendments to the PERSIST trial. One of the recommendations was to incorporate standard bupivacaine HCl as an active control. The Company had a follow-up call with the FDA this week to discuss the advice letter, as a result of which the Company has decided to... More

Starboard Value LP Shows New 9.8% Stake in DepoMed, Inc. (DEPO); Seeks to Replace Directors

In a 13D filing on DepoMed, Inc. (NASDAQ: DEPO), hedge fund Starboard Value LP disclosed a 9.8%, or 5,965,000 share, stake in the company. The firm did not hold shares at the end of the latest quarter ending March 31, 2016. The firm expressed significant concerns regarding serious corporate governance deficiencies, questionable capital allocation decisions, and egregious actions taken by the Issuers Board to impede strategic interest in acquiring the Issuer and to suppress shareholder rights and seeks to elect a slate of directors.

From the filing:

Item 4. Purpose of Transaction.

... More

Starboard Value files 13D on Depomed (DEPO)

Starboard Value files 13D on Depomed (NASDAQ: DEPO)