Depomed’s (DEPO) Hold Rating Reaffirmed at Mizuho
Depomed Inc. (NASDAQ:DEPO)‘s stock had its “hold” rating reiterated by equities researchers at Mizuho in a report issued on Tuesday. They presently have a $27.00 target price on the specialty pharmaceutical company’s stock. Mizuho’s target price would suggest a potential upside of 13.30% from the company’s current price.
DEPO has been the topic of several other research reports. Janney Montgomery Scott restated a “buy” rating and set a $28.00 price objective on shares of Depomed in a research report on Wednesday, September 28th. RBC Capital Markets restated a “sector perform” rating and set a $22.00 price objective on shares of Depomed in a research report on Friday, September 23rd. Cantor Fitzgerald restated a “buy” rating on shares of Depomed in a research report on Wednesday, June 22nd. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $19.00 target price (up previously from $18.00) on shares of Depomed in a report on Thursday, August 4th. Finally, JMP Securities reduced their target price on shares of Depomed from $28.00 to $22.00 and set a “market outperform” rating on the stock in a report on Thursday, August 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $23.14.
Shares of Depomed (NASDAQ:DEPO) traded down 0.944% during trading on Tuesday, hitting $23.605. 751,117 shares of the stock traded hands. Depomed has a 12 month low of $12.25 and a 12 month high of $27.02. The company has a 50 day moving average price of $23.40 and a 200 day moving average price of $20.01. The firm’s market cap is $1.45 billion.
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Depomed (NASDAQ:DEPO) last posted its quarterly earnings data on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The firm had revenue of $116.70 million for the quarter, compared to analysts’ expectations of $118.20 million. Depomed had a negative net margin of 16.89% and a positive return on equity of 3.71%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS. Analysts anticipate that Depomed will post $1.19 earnings per share for the current fiscal year.
In other Depomed news, CFO August J. Moretti sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $21.40, for a total value of $107,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thadd M. Vargas sold 11,250 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $25.00, for a total transaction of $281,250.00. Following the completion of the sale, the vice president now directly owns 73,086 shares in the company, valued at approximately $1,827,150. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Depomed by 197.5% in the second quarter. BlackRock Inc. now owns 5,137 shares of the specialty pharmaceutical company’s stock worth $101,000 after buying an additional 3,410 shares during the period. PineBridge Investments L.P. raised its stake in shares of Depomed by 4.1% in the second quarter. PineBridge Investments L.P. now owns 7,748 shares of the specialty pharmaceutical company’s stock worth $152,000 after buying an additional 306 shares during the last quarter. DIAM Co. Ltd. bought a new stake in shares of Depomed during the second quarter worth $157,000. Teacher Retirement System of Texas raised its stake in shares of Depomed by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 8,482 shares of the specialty pharmaceutical company’s stock worth $166,000 after buying an additional 1,024 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Depomed by 6.2% in the first quarter. Royal Bank of Canada now owns 13,301 shares of the specialty pharmaceutical company’s stock worth $186,000 after buying an additional 775 shares during the last quarter.
Depomed Company Profile
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