BidaskClub lowered shares of Depomed, Inc. (NASDAQ:DEPO) from a sell rating to a strong sell rating in a research report report published on Saturday, August 5th.
Other analysts have also issued research reports about the company. Janney Montgomery Scott reiterated a buy rating and set a $26.00 price objective on shares of Depomed in a report on Tuesday, April 11th. TheStreet lowered Depomed from a c- rating to a d+ rating in a research note on Thursday, April 27th. Cantor Fitzgerald set a $14.00 target price on Depomed and gave the stock a hold rating in a research note on Monday, May 15th. Royal Bank Of Canada set a $13.00 price objective on Depomed and gave the company a hold rating in a research note on Sunday, July 16th. Finally, Mizuho reduced their price objective on Depomed from $13.00 to $11.00 and set a neutral rating for the company in a research note on Thursday, May 25th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $14.59.
Depomed (NASDAQ:DEPO) traded down 0.33% on Friday, reaching $6.13. The company’s stock had a trading volume of 1,729,339 shares. Depomed has a 52-week low of $5.88 and a 52-week high of $27.02. The stock’s 50 day moving average price is $9.64 and its 200 day moving average price is $12.32. The firm’s market cap is $386.12 million.
Depomed (NASDAQ:DEPO) last issued its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.09 by $0.52. Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The business had revenue of $100 million for the quarter, compared to analysts’ expectations of $100.40 million. During the same quarter in the prior year, the company posted $0.27 EPS. The business’s revenue for the quarter was down 14.3% on a year-over-year basis. Equities research analysts expect that Depomed will post $0.49 earnings per share for the current fiscal year.
In other Depomed news, insider Arthur J. Higgins bought 15,000 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were acquired at an average cost of $9.92 per share, with a total value of $148,800.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.59% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Depomed by 85.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,306,318 shares of the specialty pharmaceutical company’s stock valued at $24,770,000 after buying an additional 1,063,868 shares during the last quarter. Norges Bank purchased a new stake in Depomed during the fourth quarter valued at approximately $13,075,000. Litespeed Management L.L.C. raised its stake in Depomed by 55.0% in the first quarter. Litespeed Management L.L.C. now owns 1,833,698 shares of the specialty pharmaceutical company’s stock valued at $23,013,000 after buying an additional 650,746 shares during the last quarter. Vanguard Group Inc. raised its stake in Depomed by 14.6% in the first quarter. Vanguard Group Inc. now owns 4,791,200 shares of the specialty pharmaceutical company’s stock valued at $60,129,000 after buying an additional 609,722 shares during the last quarter. Finally, ING Groep NV purchased a new stake in Depomed during the second quarter valued at approximately $4,672,000. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
About Depomed
Depomed, Inc is a specialty pharmaceutical company. The Company focuses on pain and other central nervous system (CNS) conditions. Its products include NUCYNTA ER (tapentadol extended release tablets), NUCYNTA IR (NUCYNTA) (tapentadol), Gralise (gabapentin), CAMBIA (diclofenac potassium for oral solution), Zipsor (diclofenac potassium) and Lazanda (fentanyl).
Receive News & Ratings for Depomed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Depomed Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
