Depomed (NASDAQ:DEPO) was upgraded by investment analysts at Mizuho from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $9.00 target price on the specialty pharmaceutical company’s stock. Mizuho’s target price indicates a potential upside of 14.50% from the company’s current price.

A number of other research analysts have also issued reports on DEPO. ValuEngine lowered Depomed from a “sell” rating to a “strong sell” rating in a report on Thursday, September 28th. Janney Montgomery Scott lowered Depomed from a “buy” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $8.00 in a report on Tuesday, August 8th. Royal Bank Of Canada decreased their target price on Depomed from $13.00 to $10.00 and set a “sector perform” rating for the company in a report on Tuesday, August 8th. UBS lifted their target price on Depomed from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Depomed in a report on Wednesday, August 9th. Three equities research 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 stock presently has a consensus rating of “Hold” and an average price target of $10.94.

Shares of Depomed (DEPO) traded up $0.71 during trading on Tuesday, reaching $7.86. The company had a trading volume of 6,372,815 shares, compared to its average volume of 1,647,655. Depomed has a 52 week low of $4.31 and a 52 week high of $21.38. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.90.

Depomed (NASDAQ:DEPO) last released its quarterly earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Depomed had a negative return on equity of 51.07% and a negative net margin of 27.73%. The business had revenue of $95.40 million during the quarter, compared to analyst estimates of $99.11 million. During the same period last year, the business posted $0.28 earnings per share. The company’s quarterly revenue was down 13.7% on a year-over-year basis. equities research analysts predict that Depomed will post -1.34 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of DEPO. Dimensional Fund Advisors LP grew its holdings in shares of Depomed by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,321,109 shares of the specialty pharmaceutical company’s stock worth $13,439,000 after buying an additional 14,791 shares during the last quarter. State of Wisconsin Investment Board grew its holdings in shares of Depomed by 85.4% during the third 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 during the last quarter. HighTower Advisors LLC grew its holdings in shares of Depomed by 3.2% during the second 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 during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Depomed by 2.8% during the second quarter. Principal Financial Group Inc. now owns 487,057 shares of the specialty pharmaceutical company’s stock worth $5,231,000 after buying an additional 13,330 shares during the last quarter. Finally, OxFORD Asset Management LLP grew its holdings in shares of Depomed by 22.8% during the third quarter. OxFORD Asset Management LLP now owns 470,451 shares of the specialty pharmaceutical company’s stock worth $2,764,000 after buying an additional 87,332 shares during the last quarter. Institutional investors and hedge funds own 90.99% of the company’s stock.

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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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