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Fly News Breaks for September 30, 2015
HZNP, DEPO
Sep 30, 2015 | 08:30 EDT
Roth Capital believes that Depomed's (DEPO) stock has dropped because the shares of Horizon Pharma (HZNP), which his trying to acquire Depomed, have fallen significantly. The firm says that a takeover of Depomed by Horizon would no longer significantly boost Depomed's value. However, Roth recommends buying Depomed's stock based on its standalone value ,as the firm says that Depomed's Nucynta drug is starting to show strong positive momentum. Roth cut its price target on Depomed to $21 from $28.5 but keeps a Buy rating on the shares.
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