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Fly News Breaks for September 22, 2015
DEPO, HZNP
Sep 22, 2015 | 06:43 EDT
Brean Capital analyst Difei Yang downgraded Horizon Pharma (HZNP) to Hold saying "unsettling recent developments" make the stock's premium valuation no longer justified. The public discussion on high drug prices is a negative for the company while its attempt to acquire Depomed (DEPO) is unlikely to result in a completed deal, Yang tells investors in a research note. Further, Horizon's prescription trends are showing weakness, the analyst points out. Yang views the stock as more risky than in the past. Horizon closed yesterday down $2.93 to $28.99.
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