Piper Jaffray analyst David Amsellem downgraded Depomed to Underweight saying a review of prescription trends for the commercial portfolio increases concern that management will not be able to drive "significant" growth from the business in 2017 and beyond. Further, the analyst believes management does not really have a new strategy in place to "wring significant further volume growth" out of Nucynta ER amid more challenging market dynamics. Amsellem believes further multiple contraction is warranted. He cut his price target for Depomed shares to $14 from $17.