Depomed, Inc. (DEPO) Receives Consensus Rating of “Hold” from Analysts
Depomed, Inc. (NASDAQ:DEPO) has earned an average recommendation of “Hold” from the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $14.59.
Several brokerages have recently commented on DEPO. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $9.00 target price (down from $10.00) on shares of Depomed in a report on Wednesday, August 9th. Morgan Stanley cut shares of Depomed from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $12.00 to $5.00 in a report on Tuesday, August 8th. Royal Bank Of Canada lowered their target price on shares of Depomed from $13.00 to $10.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 8th. Janney Montgomery Scott cut shares of Depomed from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $8.00 in a report on Tuesday, August 8th. Finally, BidaskClub cut shares of Depomed from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th.
In other news, insider Arthur J. Higgins purchased 15,000 shares of Depomed stock in a transaction that occurred on Monday, June 12th. The shares were acquired at an average price of $9.92 per share, for a total transaction of $148,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.59% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Airain ltd purchased a new stake in Depomed during the first quarter valued at about $128,000. State of Alaska Department of Revenue raised its stake 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. Piedmont Investment Advisors LLC purchased a new stake in Depomed during the second quarter valued at about $145,000. Captrust Financial Advisors purchased a new stake in Depomed during the second quarter valued at about $147,000. Finally, Municipal Employees Retirement System of Michigan raised its stake 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. Institutional investors and hedge funds own 92.78% of the company’s stock.
Depomed (DEPO) traded up 3.97% during midday trading on Friday, reaching $6.55. The company had a trading volume of 1,241,273 shares. The stock’s 50 day moving average price is $9.39 and its 200-day moving average price is $12.20. The firm’s market capitalization is $412.57 million. Depomed has a one year low of $5.88 and a one year high of $27.02.
Depomed (NASDAQ:DEPO) last released its quarterly earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.52. The company had revenue of $100 million during the quarter, compared to the consensus estimate of $100.40 million. Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The firm’s revenue was down 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. On average, equities research analysts anticipate that Depomed will post $0.48 earnings per share for the current year.
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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