Depomed (NASDAQ:DEPO)‘s stock had its “hold” rating reiterated by equities researchers at Piper Jaffray Companies in a research report issued on Thursday. They presently have a $9.00 target price on the specialty pharmaceutical company’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 10.97% from the company’s current price.

Several other research analysts have also weighed in on the stock. ValuEngine raised shares of Depomed from a “strong sell” rating to a “sell” rating in a report on Monday, September 11th. Mizuho reissued a “neutral” rating and issued a $6.00 target price (down from $11.00) on shares of Depomed in a research report on Friday, October 13th. Royal Bank Of Canada set a $10.00 target price on shares of Depomed and gave the company a “hold” rating in a research note on Friday, October 20th. Morgan Stanley raised shares of Depomed from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 9th. Finally, UBS upped their target price on shares of Depomed from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Depomed has a consensus rating of “Hold” and an average price target of $11.34.

Shares of Depomed (NASDAQ DEPO) opened at $8.11 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.90. Depomed has a 12-month low of $4.31 and a 12-month high of $21.38.

Depomed (NASDAQ:DEPO) last announced its quarterly earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Depomed had a negative net margin of 27.73% and a negative return on equity of 51.07%. The firm had revenue of $95.40 million during the quarter, compared to analysts’ expectations of $99.11 million. During the same period in the previous year, the company earned $0.28 earnings per share. Depomed’s quarterly revenue was down 13.7% compared to the same quarter last year. sell-side analysts forecast that Depomed will post -1.34 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System grew its position in Depomed by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 27,100 shares of the specialty pharmaceutical company’s stock valued at $532,000 after acquiring an additional 100 shares during the last quarter. Creative Planning grew its holdings in shares of Depomed by 0.5% during the first quarter. Creative Planning now owns 40,245 shares of the specialty pharmaceutical company’s stock worth $505,000 after purchasing an additional 185 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Depomed by 1.4% during the third quarter. Municipal Employees Retirement System of Michigan now owns 13,560 shares of the specialty pharmaceutical company’s stock worth $339,000 after purchasing an additional 190 shares during the last quarter. TSP Capital Management Group LLC grew its holdings in shares of Depomed by 0.3% during the first quarter. TSP Capital Management Group LLC now owns 60,250 shares of the specialty pharmaceutical company’s stock worth $756,000 after purchasing an additional 200 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Depomed by 0.6% during the second quarter. Arizona State Retirement System now owns 32,521 shares of the specialty pharmaceutical company’s stock worth $349,000 after purchasing an additional 200 shares during the period. 90.99% of the stock is owned by institutional investors and hedge funds.

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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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