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Fly News Breaks for July 14, 2015
HZNP, DEPO
Jul 14, 2015 | 08:51 EDT
After Horizon Pharma (HZNP) made an unsolicited all-stock offer for Depomed (DEPO), Roth Capital says that Depomed seems uninterested in the offer. But the firm expects a higher offer for Depomed to emerge, either from Horizon or another suitor. Roth sees a 66% chance of either Horizon upping its bid or another bidder emerging. It raised its price target on the name to $33 from $28.5 and keeps a Buy rating on the stock.
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