Shares of Depomed, Inc. (NASDAQ:DEPO) have received a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $12.74.

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada set a $8.00 target price on Depomed and gave the company a “hold” rating in a research report on Friday, October 27th. ValuEngine downgraded Depomed from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 28th. Janney Montgomery Scott downgraded Depomed from a “buy” rating to a “neutral” rating and cut their target price for the company from $18.00 to $8.00 in a research report on Tuesday, August 8th. BidaskClub downgraded Depomed from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $9.00 target price (down previously from $10.00) on shares of Depomed in a research report on Wednesday, August 9th.

Depomed (NASDAQ:DEPO) last issued its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.52). The firm had revenue of $100.00 million for the quarter, compared to analysts’ expectations of $100.40 million. Depomed had a negative return on equity of 45.03% and a negative net margin of 26.02%. The firm’s revenue was down 14.3% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Depomed by 14.6% during the 1st quarter. Vanguard Group Inc. now owns 4,791,200 shares of the specialty pharmaceutical company’s stock worth $60,129,000 after buying an additional 609,722 shares in the last quarter. State Street Corp grew its position in shares of Depomed by 5.8% during the 1st quarter. State Street Corp now owns 2,374,915 shares of the specialty pharmaceutical company’s stock worth $29,802,000 after buying an additional 130,760 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Depomed by 85.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,306,318 shares of the specialty pharmaceutical company’s stock worth $24,770,000 after buying an additional 1,063,868 shares in the last quarter. State of Wisconsin Investment Board grew its position in shares of Depomed by 85.4% during the 3rd quarter. State of Wisconsin Investment Board now owns 955,200 shares of the specialty pharmaceutical company’s stock worth $5,531,000 after buying an additional 440,000 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Depomed by 3.2% during the 2nd quarter. HighTower Advisors LLC now owns 920,921 shares of the specialty pharmaceutical company’s stock worth $9,883,000 after buying an additional 28,893 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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About Depomed

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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