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Fly News Breaks for April 6, 2015
JNJ, DEPO
Apr 6, 2015 | 14:34 EDT
Roth Capital raised its price target on Depomed (DEPO) to $30 from $27 after the company closed its Nucynta deal with Johnson & Johnson (JNJ) about one month earlier than the firm expected. Noting that the company said that it would begin shipping Nucynta this week with a price adjustment made after the deal closing, the firm said it now expects a price increase of about 44%, which is up from its prior forecast for a 20% price hike. Roth maintains a Buy rating on Depomed shares.
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