Depomed, Inc. (DEPO) PT Lowered to $10.00 at Royal Bank Of Canada
Depomed, Inc. (NASDAQ:DEPO) had its price target lowered by equities research analysts at Royal Bank Of Canada from $13.00 to $10.00 in a report issued on Tuesday. The brokerage presently has a “sector perform” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 8.34% from the stock’s previous close.
Other research analysts have also issued research reports about the company. Janney Montgomery Scott reiterated a “buy” rating and set a $26.00 price target on shares of Depomed in a report on Tuesday, April 11th. TheStreet lowered Depomed from a “c-” rating to a “d+” rating in a report on Thursday, April 27th. Cantor Fitzgerald set a $14.00 price target on Depomed and gave the stock a “hold” rating in a report on Monday, May 15th. Mizuho reduced their price target on Depomed from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, May 25th. Finally, Piper Jaffray Companies upgraded Depomed from an “underweight” rating to a “neutral” rating and reduced their price target for the stock from $11.00 to $10.00 in a report on Wednesday, May 10th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.44.
Depomed (NASDAQ DEPO) traded down 26.0011% on Tuesday, reaching $6.8301. 2,475,314 shares of the company’s stock were exchanged. The firm’s market cap is $425.80 million. Depomed has a one year low of $6.71 and a one year high of $27.02. The firm has a 50 day moving average price of $10.55 and a 200 day moving average price of $13.10.
Depomed (NASDAQ:DEPO) last posted its quarterly earnings results on Monday, August 7th. The specialty pharmaceutical company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by $0.01. Depomed had a negative return on equity of 25.33% and a negative net margin of 21.41%. The company had revenue of $100 million for the quarter, compared to analysts’ expectations of $100.40 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm’s revenue was down 14.3% on a year-over-year basis. On average, equities analysts anticipate that Depomed will post $0.62 earnings per share for the current year.
In other Depomed news, insider Arthur J. Higgins acquired 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average cost of $9.92 per share, with a total value of $148,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.59% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of DEPO. Airain ltd acquired a new stake in shares of Depomed during the first quarter worth about $128,000. State of Alaska Department of Revenue increased 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 in the last quarter. Municipal Employees Retirement System of Michigan increased its position in Depomed by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock valued at $157,000 after buying an additional 590 shares in the last quarter. Two Sigma Securities LLC purchased a new position in Depomed during the first quarter valued at $180,000. Finally, Mason Street Advisors LLC increased 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 in the last quarter. 91.42% of the stock is owned by hedge funds and other institutional investors.
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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