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Specialty drugmaker Horizon Pharma (HZNP) raised its unsolicited offer for Depomed (DEPO) Wednesday, sending both stocks up. Horizon proposed a deal worth $33 a share, all in Horizon stock, up from its earlier bid of $29.25, which Depomed rejected. The market seemed to anticipate such a move, since Depomed was already at 32.73 at Monday’s close, and in fact last week Roth Capital analyst Scott Henry raised his price target on Depomed to 33 Scalper1 News
Scalper1 News