Depomed, Inc. (NASDAQ:DEPO)‘s stock had its “hold” rating restated by equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Sunday. They currently have a $9.00 price objective on the specialty pharmaceutical company’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 47.06% from the stock’s previous close.

DEPO has been the topic of a number of other reports. Morgan Stanley downgraded shares of Depomed from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $12.00 to $5.00 in a research report on Tuesday, August 8th. ValuEngine raised shares of Depomed from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Royal Bank Of Canada set a $13.00 price objective on shares of Depomed and gave the company a “hold” rating in a research report on Sunday, July 16th. Janney Montgomery Scott downgraded shares of Depomed from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $8.00 in a research report on Tuesday, August 8th. Finally, BidaskClub downgraded shares of Depomed from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $14.59.

Depomed (NASDAQ:DEPO) opened at 6.12 on Friday. Depomed has a one year low of $5.81 and a one year high of $27.02. The stock’s market capitalization is $385.49 million. The company’s 50-day moving average is $7.53 and its 200 day moving average is $11.08.

Depomed (NASDAQ:DEPO) last announced its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.52. Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The firm had revenue of $100 million during the quarter, compared to analysts’ expectations of $100.40 million. During the same period in the prior year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was down 14.3% on a year-over-year basis. Equities analysts expect that Depomed will post $0.48 EPS for the current year.

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In related news, insider Arthur J. Higgins bought 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were purchased at an average cost of $9.92 per share, with a total value of $148,800.00. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.59% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of DEPO. Louisiana State Employees Retirement System grew its position in shares of Depomed by 2.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the specialty pharmaceutical company’s stock valued at $318,000 after buying an additional 500 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Depomed in the 1st quarter valued at $494,000. Great West Life Assurance Co. Can grew its position in shares of Depomed by 6.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 84,148 shares of the specialty pharmaceutical company’s stock valued at $1,055,000 after buying an additional 5,324 shares during the last quarter. Comerica Bank grew its position in shares of Depomed by 2.5% in the 1st quarter. Comerica Bank now owns 108,195 shares of the specialty pharmaceutical company’s stock valued at $1,315,000 after buying an additional 2,659 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its position in shares of Depomed by 213.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 47,000 shares of the specialty pharmaceutical company’s stock valued at $590,000 after buying an additional 32,000 shares during the last quarter. 91.25% of the stock is currently owned by hedge funds and other institutional investors.

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).

Analyst Recommendations for Depomed (NASDAQ:DEPO)

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