Depomed, Inc. (NASDAQ:DEPO)‘s stock had its “hold” rating reaffirmed by research analysts at Piper Jaffray Companies in a note issued to investors on Sunday. They currently have a $9.00 target price on the specialty pharmaceutical company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 47.06% from the stock’s current price.
A number of other equities research analysts have also recently commented on DEPO. Cantor Fitzgerald set a $14.00 price objective on Depomed and gave the company a “hold” rating in a research note on Monday, May 15th. Mizuho dropped their target price on Depomed from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, May 25th. ValuEngine upgraded Depomed from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Royal Bank Of Canada restated a “hold” rating and issued a $13.00 target price on shares of Depomed in a report on Tuesday, June 13th. Finally, BidaskClub lowered Depomed from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.59.
Shares of Depomed (DEPO) opened at 6.12 on Friday. The company’s market cap is $385.49 million. Depomed has a 1-year low of $5.81 and a 1-year high of $27.02. The firm has a 50-day moving average price of $7.53 and a 200 day moving average price of $11.08.
Depomed (NASDAQ:DEPO) last announced its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.52. Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The firm had revenue of $100 million during the quarter, compared to analyst estimates of $100.40 million. During the same period last year, the business posted $0.27 EPS. The company’s revenue was down 14.3% on a year-over-year basis. On average, equities analysts anticipate that Depomed will post $0.48 earnings per share for the current year.
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In other Depomed news, insider Arthur J. Higgins purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were acquired at an average cost of $9.92 per share, for a total transaction of $148,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.59% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. State of Wisconsin Investment Board lifted its holdings in Depomed by 151.9% during the first quarter. State of Wisconsin Investment Board now owns 202,000 shares of the specialty pharmaceutical company’s stock worth $2,535,000 after acquiring an additional 121,800 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Depomed by 76.6% during the first quarter. Asset Management One Co. Ltd. now owns 51,687 shares of the specialty pharmaceutical company’s stock worth $658,000 after acquiring an additional 22,422 shares during the period. Litespeed Management L.L.C. lifted its holdings in Depomed by 55.0% during the first quarter. Litespeed Management L.L.C. now owns 1,833,698 shares of the specialty pharmaceutical company’s stock worth $23,013,000 after acquiring an additional 650,746 shares during the period. Ballentine Partners LLC bought a new stake in Depomed during the second quarter worth $442,000. Finally, Mason Street Advisors LLC lifted its holdings in Depomed by 7.9% during the first quarter. Mason Street Advisors LLC now owns 14,521 shares of the specialty pharmaceutical company’s stock worth $182,000 after acquiring an additional 1,064 shares during the period. Institutional investors and hedge funds own 91.25% of the company’s stock.
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).
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