Depomed, Inc. (DEPO) Given Consensus Rating of “Hold” by Brokerages
Shares of Depomed, Inc. (NASDAQ:DEPO) have received an average rating of “Hold” from the thirteen brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $17.74.
DEPO has been the subject of a number of analyst reports. Janney Montgomery Scott restated a “buy” rating and set a $26.00 price objective on shares of Depomed in a report on Wednesday, March 29th. TheStreet cut shares of Depomed from a “c-” rating to a “d+” rating in a report on Thursday, April 27th. Mizuho decreased their price objective on shares of Depomed from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, May 25th. JMP Securities restated an “outperform” rating and set a $16.00 price objective (down previously from $30.00) on shares of Depomed in a report on Thursday, March 30th. Finally, Piper Jaffray Companies upgraded shares of Depomed from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $11.00 to $10.00 in a report on Wednesday, May 10th.
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Depomed (NASDAQ DEPO) traded down 0.85% during trading on Monday, reaching $10.51. 2,241,108 shares of the company were exchanged. The firm’s market cap is $655.20 million. Depomed has a 52-week low of $9.38 and a 52-week high of $27.02. The firm has a 50-day moving average of $10.51 and a 200-day moving average of $13.47.
Depomed (NASDAQ:DEPO) last issued its quarterly earnings data on Tuesday, May 9th. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.18. The firm had revenue of $95 million for the quarter, compared to analyst estimates of $99.48 million. Depomed had a negative net margin of 21.41% and a negative return on equity of 25.33%. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. On average, equities analysts forecast that Depomed will post $0.67 EPS for the current year.
In related news, insider Arthur J. Higgins purchased 15,000 shares of Depomed stock in a transaction dated Monday, June 12th. The stock was bought at an average price of $9.92 per share, for a total transaction of $148,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.59% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Airain ltd bought a new position in Depomed during the first quarter valued at $128,000. State of Alaska Department of Revenue boosted its position in Depomed by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 12,298 shares of the specialty pharmaceutical company’s stock valued at $132,000 after buying an additional 5,448 shares during the period. Two Sigma Securities LLC bought a new position in Depomed during the first quarter valued at $180,000. Mason Street Advisors LLC boosted its position in Depomed by 7.9% in the first quarter. Mason Street Advisors LLC now owns 14,521 shares of the specialty pharmaceutical company’s stock valued at $182,000 after buying an additional 1,064 shares during the period. Finally, Yakira Capital Management Inc. bought a new position in Depomed during the first quarter valued at $190,000. Institutional investors own 91.46% of the company’s stock.
Depomed Company Profile
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).
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