Depomed Short Interest Up 21.7% in August (DEPO)
Depomed (NASDAQ:DEPO) saw a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 5,028,255 shares, a growth of 21.7% from the July 31st total of 4,132,405 shares, Analyst RN reports. Approximately 8.7% of the shares of the stock are sold short. Based on an average daily volume of 913,288 shares, the days-to-cover ratio is presently 5.5 days.
Separately, analysts at WallachBeth Capital initiated coverage on shares of Depomed in a research note on Thursday, July 10th. They set a “buy” rating and a $17.00 price target on the stock.
Depomed (NASDAQ:DEPO) opened at 13.99 on Thursday. Depomed has a 52 week low of $6.95 and a 52 week high of $15.51. The stock’s 50-day moving average is $12. and its 200-day moving average is $13.02. The company has a market cap of $818.1 million and a P/E ratio of 11.52.
Depomed (NASDAQ:DEPO) last announced its earnings results on Wednesday, August 6th. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.08) by $0.07. The company had revenue of $67.70 million for the quarter, compared to the consensus estimate of $38.03 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 126.1% on a year-over-year basis. Analysts expect that Depomed will post $0.47 EPS for the current fiscal year.
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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