In a report issued Friday, Roth Capital analyst Scott R. Henry provided an update of prescriptions for Nucynta, a franchise recently acquired by Depomed Inc DEPO, which he believes is now the primary fundamental focus for the company’s investors.
The firm anticipates flattish trends to start accelerating in the second half of the year (although with higher pricing), and sees this week's data as in-line with expectations. Notably, the prescriptions data for the entire month of July shows that Nucynta ER is experiencing an upward bounce in market share (“a trend worth watching in coming weeks/months,” Henry added).
Roth’s expectations are pretty much the same for Nucynta ER, even though – opposite to Nucynta IR – it continues to see the number of prescriptions rising.
What To Watch For
Analysts at Roth Capital “are monitoring Nucynta script trends pending the transition to the DEPO internal salesforce. More importantly, shares are currently being driven by an unsolicited all-stock buyout proposal from Horizon Pharma PLC HZNP.”
The firm maintains a Buy rating and $33.00 12-month price target on shares of Depomed.
Shares of Depomed are down more than 1 percent on Friday trading.
Image Credit: Public Domain© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.