Depomed Inc (DEPO) Receives Average Rating of “Hold” from Brokerages

Depomed Inc (NASDAQ:DEPO) has been given an average recommendation of “Hold” by the thirteen research firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $12.38.

DEPO has been the subject of a number of analyst reports. Mizuho raised Depomed from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Tuesday, December 5th. Morgan Stanley raised Depomed from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 9th. Royal Bank of Canada set a $9.00 target price on Depomed and gave the stock a “hold” rating in a report on Thursday, December 7th. Piper Jaffray Companies reissued a “hold” rating and issued a $9.00 target price on shares of Depomed in a report on Thursday, December 7th. Finally, BidaskClub raised Depomed from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th.

In other Depomed news, insider Arthur J. Higgins bought 75,000 shares of Depomed stock in a transaction on Thursday, December 14th. The stock was acquired at an average price of $8.16 per share, with a total value of $612,000.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. 2.59% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of DEPO. Schwab Charles Investment Management Inc. increased its holdings in shares of Depomed by 4.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 351,551 shares of the specialty pharmaceutical company’s stock worth $3,776,000 after purchasing an additional 15,966 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Depomed by 35.1% in the second quarter. Alliancebernstein L.P. now owns 128,176 shares of the specialty pharmaceutical company’s stock worth $1,377,000 after acquiring an additional 33,330 shares during the period. Teachers Advisors LLC grew its holdings in shares of Depomed by 7.8% in the second quarter. Teachers Advisors LLC now owns 169,339 shares of the specialty pharmaceutical company’s stock worth $1,819,000 after acquiring an additional 12,227 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Depomed by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 333,508 shares of the specialty pharmaceutical company’s stock worth $3,581,000 after acquiring an additional 2,056 shares during the period. Finally, Nationwide Fund Advisors grew its holdings in shares of Depomed by 1.5% in the second quarter. Nationwide Fund Advisors now owns 35,938 shares of the specialty pharmaceutical company’s stock worth $386,000 after acquiring an additional 533 shares during the period. 89.83% of the stock is owned by institutional investors and hedge funds.

Depomed (NASDAQ DEPO) traded down $0.22 during mid-day trading on Friday, reaching $6.46. The company had a trading volume of 1,750,000 shares, compared to its average volume of 1,020,000. Depomed has a one year low of $4.31 and a one year high of $17.86. 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 company has a market cap of $407.07, a price-to-earnings ratio of -3.53 and a beta of 1.07.

Depomed (NASDAQ:DEPO) last posted its quarterly earnings data on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $95.40 million during the quarter, compared to analyst estimates of $99.11 million. During the same quarter last year, the company earned $0.28 EPS. The firm’s revenue for the quarter was down 13.7% on a year-over-year basis. equities research analysts predict that Depomed will post -1.34 earnings per share 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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