Piper Jaffray Analyst Downgrades Depomed Inc (DEPO)
Piper Jaffray analyst David Amsellem downgrades Depomed Inc (NASDAQ:DEPO) from Overweight to Neutral with a a price target of $18.00.
Amsellem provides, “Though the presence of an activist investor is not lost on us, we cannot ignore weak prescription (Rx) volume trends for secondary top-line drivers, along with Nucynta franchise Rx trends that continue to point to peak sales closer to $500M.”
The analyst affirms that these dynamics make it difficult for him to “envision significant value creation from current levels even if DEPO should succeed in keeping exclusivity for Nucynta ER to September 2028,” especially without a sale of the company.
According to TipRanks, Amsellem is ranked #3,715 of 4,083 analysts. He maintains a success rate of 44% and realizes an average loss of (5.1%).