Depomed (DEPO) Upgraded to “Sell” at ValuEngine
Depomed (NASDAQ:DEPO) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Tuesday.
Other equities analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of Depomed from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $12.00 to $5.00 in a report on Tuesday, August 8th. Royal Bank Of Canada set a $10.00 price target on shares of Depomed and gave the company a “hold” rating in a report on Friday, October 20th. Piper Jaffray Companies reiterated a “hold” rating and issued a $9.00 price target on shares of Depomed in a report on Sunday, September 10th. UBS increased their price target on shares of Depomed from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Finally, Janney Montgomery Scott downgraded shares of Depomed from a “buy” rating to a “neutral” rating and cut their price target for the company from $18.00 to $8.00 in a report on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $10.94.
Shares of Depomed (NASDAQ:DEPO) traded up $0.71 during trading on Tuesday, reaching $7.86. 6,372,815 shares of the company’s stock were exchanged, compared to its average volume of 1,647,655. 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 has a 52 week low of $4.31 and a 52 week high of $21.38.
Several institutional investors and hedge funds have recently made changes to their positions in DEPO. Dimensional Fund Advisors LP grew its stake in Depomed by 85.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,306,318 shares of the specialty pharmaceutical company’s stock valued at $24,770,000 after acquiring an additional 1,063,868 shares during the last quarter. State of Wisconsin Investment Board grew its stake in Depomed by 85.4% in the 3rd quarter. State of Wisconsin Investment Board now owns 955,200 shares of the specialty pharmaceutical company’s stock valued at $5,531,000 after acquiring an additional 440,000 shares during the last quarter. Clark Estates Inc. NY acquired a new stake in Depomed in the 2nd quarter valued at about $3,329,000. Marshall Wace North America L.P. acquired a new stake in Depomed in the 2nd quarter valued at about $2,834,000. Finally, Renaissance Technologies LLC acquired a new stake in Depomed in the 1st quarter valued at about $2,741,000. Institutional investors and hedge funds own 90.99% of the company’s stock.
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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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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