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Why Depomed (DEPO) Stock Is Surging Today

A takeover appears imminent

Depomed Inc (NASDAQ:DEPO) stock is on a tear to start off the week amid rumors of an acquisition.

DepomedWith the company announcing that a larger company taking over Depomed is possible, an analyst estimates that the chances of a takeover have increased from 20% to 50%.

The pharmaceutical company also reported earnings for its most recent quarter, coming in at 12 cents a share. The consensus estimate called for 17 cents a share.

Depomed’s full-year guidancce has been slightly altered, moving from in the range of $485 million to $525 million, to the range of $490 million to $520 million.

DEPO stock is up 14.7% Monday.

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