Shares of Depomed Inc (NASDAQ:DEPO) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.38.

Several research analysts have weighed in on DEPO shares. Mizuho upgraded Depomed from a “neutral” rating to a “buy” rating and set a $9.00 price target for the company in a report on Tuesday, December 5th. Morgan Stanley upgraded Depomed from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 9th. Piper Jaffray Companies reiterated a “hold” rating and issued a $9.00 price target on shares of Depomed in a report on Thursday, December 7th. BidaskClub upgraded Depomed from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Royal Bank of Canada set a $8.00 price target on Depomed and gave the company a “hold” rating in a report on Friday, October 27th.

In other news, insider Arthur J. Higgins acquired 75,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was acquired at an average cost of $8.16 per share, for a total transaction of $612,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.59% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Nationwide Fund Advisors increased its holdings in shares of Depomed by 1.5% during the 2nd quarter. Nationwide Fund Advisors now owns 35,938 shares of the specialty pharmaceutical company’s stock worth $386,000 after buying an additional 533 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Depomed by 0.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 333,508 shares of the specialty pharmaceutical company’s stock worth $3,581,000 after buying an additional 2,056 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of Depomed by 7.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 37,590 shares of the specialty pharmaceutical company’s stock worth $404,000 after buying an additional 2,630 shares during the last quarter. Voya Investment Management LLC increased its holdings in Depomed by 10.4% in the 2nd quarter. Voya Investment Management LLC now owns 29,495 shares of the specialty pharmaceutical company’s stock valued at $317,000 after purchasing an additional 2,790 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Depomed by 7.8% in the 2nd quarter. Legal & General Group Plc now owns 119,225 shares of the specialty pharmaceutical company’s stock valued at $1,280,000 after purchasing an additional 8,583 shares in the last quarter. Institutional investors and hedge funds own 90.76% of the company’s stock.

Depomed (DEPO) traded down $0.14 during mid-day trading on Monday, reaching $8.33. The company had a trading volume of 488,000 shares, compared to its average volume of 927,944. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.90. The stock has a market cap of $524.90, a price-to-earnings ratio of -4.55 and a beta of 1.29. Depomed has a 12-month low of $4.31 and a 12-month high of $19.07.

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

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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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