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Investment analysts at WallachBeth Capital began coverage on shares of Depomed (NASDAQ:DEPO) in a note issued to investors on Thursday. The firm set a “buy” rating and a $17.00 price target on the stock. WallachBeth Capital’s price objective suggests a potential upside of 26.87% from the stock’s previous close.

Shares of Depomed (NASDAQ:DEPO) traded up 0.45% during mid-day trading on Thursday, hitting $13.40. The stock had a trading volume of 679,389 shares. Depomed has a one year low of $5.93 and a one year high of $15.39. The stock has a 50-day moving average of $12.83 and a 200-day moving average of $12.71. The company has a market cap of $777.1 million and a P/E ratio of 11.67.

Depomed (NASDAQ:DEPO) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.01) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.10 by $0.11. The company had revenue of $76.50 million for the quarter, compared to the consensus estimate of $53.57 million. During the same quarter last year, the company posted ($0.10) earnings per share. Depomed’s revenue was up 192.0% compared to the same quarter last year. Analysts expect that Depomed will post $0.25 EPS for the current fiscal year.

Separately, analysts at Roth Capital cut their price target on shares of Depomed from $14.00 to $13.50 in a research note on Friday, May 9th.

Depomed, Inc (NASDAQ:DEPO) is a specialty pharmaceutical company initially focused on neurology, pain and other diseases of the central nervous system.

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