HBK Investments L P Sells 54,977 Shares of Depomed (DEPO)

HBK Investments L P lessened its stake in shares of Depomed (NASDAQ:DEPO) by 50.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,500 shares of the specialty pharmaceutical company’s stock after selling 54,977 shares during the quarter. HBK Investments L P owned about 0.08% of Depomed worth $431,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DEPO. Prudential Financial Inc. grew its holdings in Depomed by 13.0% during the 3rd quarter. Prudential Financial Inc. now owns 117,116 shares of the specialty pharmaceutical company’s stock valued at $678,000 after buying an additional 13,470 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Depomed by 71.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 32,251 shares of the specialty pharmaceutical company’s stock valued at $187,000 after buying an additional 13,388 shares in the last quarter. Systematic Financial Management LP grew its holdings in Depomed by 52.1% during the 3rd quarter. Systematic Financial Management LP now owns 254,995 shares of the specialty pharmaceutical company’s stock valued at $1,476,000 after buying an additional 87,320 shares in the last quarter. Nordea Investment Management AB grew its holdings in Depomed by 95.1% during the 3rd quarter. Nordea Investment Management AB now owns 356,681 shares of the specialty pharmaceutical company’s stock valued at $2,065,000 after buying an additional 173,826 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Depomed by 6.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 374,128 shares of the specialty pharmaceutical company’s stock valued at $2,167,000 after buying an additional 22,577 shares in the last quarter. 91.22% of the stock is owned by institutional investors and hedge funds.

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Shares of DEPO traded up $0.06 during trading hours on Wednesday, reaching $7.02. 1,265,069 shares of the company’s stock traded hands, compared to its average volume of 1,168,683. The company has a market cap of $438.26, a PE ratio of -5.57 and a beta of 1.19. Depomed has a 12 month low of $4.31 and a 12 month high of $12.49. The company has a current ratio of 0.74, a quick ratio of 0.70 and a debt-to-equity ratio of 3.21.



Depomed (NASDAQ:DEPO) last released its earnings results on Tuesday, February 27th. The specialty pharmaceutical company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.05. The company had revenue of $94.41 million during the quarter, compared to the consensus estimate of $88.75 million. Depomed had a negative return on equity of 45.19% and a negative net margin of 26.92%. analysts predict that Depomed will post -1.03 earnings per share for the current year.

In related news, SVP Matthew M. Gosling sold 45,519 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $6.58, for a total value of $299,515.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.27% of the company’s stock.

DEPO has been the subject of a number of recent analyst reports. BidaskClub raised Depomed from a “strong sell” rating to a “sell” rating in a report on Thursday, February 15th. Mizuho reiterated a “buy” rating and set a $9.00 price target on shares of Depomed in a research report on Friday, March 23rd. ValuEngine downgraded Depomed from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Roth Capital set a $10.00 price target on Depomed and gave the company a “buy” rating in a research report on Friday, March 2nd. Finally, Piper Jaffray reiterated a “hold” rating and set a $8.00 price target on shares of Depomed in a research report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.75.

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Depomed Company Profile

Depomed, Inc, a specialty pharmaceutical company, engages in the development, sale, and licensing of products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the management of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; and Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults.

Institutional Ownership by Quarter for Depomed (NASDAQ:DEPO)

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