Depomed Inc (NASDAQ:DEPO) has received a consensus rating of “Hold” from the nine research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $8.50.
DEPO has been the subject of several recent analyst reports. BidaskClub downgraded shares of Depomed from a “hold” rating to a “sell” rating in a research report on Friday, May 4th. Mizuho reiterated a “buy” rating and issued a $9.00 price target on shares of Depomed in a research report on Friday, March 23rd. Roth Capital set a $10.00 price target on shares of Depomed and gave the company a “buy” rating in a research report on Friday, March 2nd. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $8.00 price target on shares of Depomed in a research report on Thursday, March 1st.
Shares of NASDAQ:DEPO traded down $0.01 during trading on Thursday, hitting $6.97. 922,100 shares of the company were exchanged, compared to its average volume of 1,249,040. The company has a market capitalization of $436.21 million, a PE ratio of -5.53 and a beta of 1.20. The company has a current ratio of 0.75, a quick ratio of 0.73 and a debt-to-equity ratio of 2.55. Depomed has a 12-month low of $4.31 and a 12-month high of $11.27.
Depomed (NASDAQ:DEPO) last issued its quarterly earnings data on Thursday, May 10th. The specialty pharmaceutical company reported $0.28 earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.69. The business had revenue of $128.40 million during the quarter, compared to the consensus estimate of $65.77 million. Depomed had a negative net margin of 10.02% and a negative return on equity of 15.74%. The company’s revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 EPS. equities research analysts predict that Depomed will post -0.75 EPS for the current fiscal year.
In related news, SVP Matthew M. Gosling sold 19,674 shares of the company’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $7.07, for a total value of $139,095.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.27% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in DEPO. Renaissance Technologies LLC increased its stake in Depomed by 167.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,723,400 shares of the specialty pharmaceutical company’s stock valued at $21,923,000 after buying an additional 1,704,200 shares during the period. Prudential Financial Inc. increased its stake in Depomed by 1,063.0% in the 1st quarter. Prudential Financial Inc. now owns 1,187,594 shares of the specialty pharmaceutical company’s stock valued at $7,826,000 after buying an additional 1,085,478 shares during the period. Millennium Management LLC increased its stake in Depomed by 47.1% in the 4th quarter. Millennium Management LLC now owns 1,904,663 shares of the specialty pharmaceutical company’s stock valued at $15,333,000 after buying an additional 609,948 shares during the period. Opaleye Management Inc. acquired a new position in Depomed in the 1st quarter valued at $3,954,000. Finally, Dimensional Fund Advisors LP increased its stake in Depomed by 16.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,307,181 shares of the specialty pharmaceutical company’s stock valued at $21,794,000 after buying an additional 464,234 shares during the period. 97.08% of the stock is currently owned by institutional investors.
Depomed, Inc, a specialty pharmaceutical company, engages in the development, sale, and licensing of products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the management of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; and Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults.
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