Oak Ridge Investments LLC trimmed its stake in Depomed, Inc. (NASDAQ:DEPO) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,299,002 shares of the specialty pharmaceutical company’s stock after selling 83,407 shares during the quarter. Oak Ridge Investments LLC owned about 3.69% of Depomed worth $24,691,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of DEPO. Airain ltd acquired a new stake in Depomed in the first quarter worth $128,000. State of Alaska Department of Revenue grew its holdings in Depomed by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 12,298 shares of the specialty pharmaceutical company’s stock worth $132,000 after purchasing an additional 5,448 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Depomed by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock worth $157,000 after purchasing an additional 590 shares during the period. Two Sigma Securities LLC acquired a new stake in Depomed in the first quarter worth $180,000. Finally, Mason Street Advisors LLC grew its holdings in Depomed by 7.9% in the first quarter. Mason Street Advisors LLC now owns 14,521 shares of the specialty pharmaceutical company’s stock worth $182,000 after purchasing an additional 1,064 shares during the period. Institutional investors and hedge funds own 91.25% of the company’s stock.
DEPO has been the subject of a number of research reports. Morgan Stanley cut shares of Depomed from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $12.00 to $5.00 in a report on Tuesday, August 8th. BidaskClub cut shares of Depomed from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Cantor Fitzgerald set a $14.00 price target on shares of Depomed and gave the stock a “hold” rating in a report on Monday, May 15th. Royal Bank Of Canada restated a “hold” rating and issued a $13.00 price target on shares of Depomed in a report on Tuesday, June 13th. Finally, ValuEngine upgraded shares of Depomed from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $14.59.
Depomed, Inc. (DEPO) traded up 3.76% on Monday, hitting $6.35. 418,640 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $7.44 and a 200-day moving average price of $11.00. The stock’s market cap is $399.97 million. Depomed, Inc. has a 52-week low of $5.81 and a 52-week high of $27.02.
Depomed (NASDAQ:DEPO) last released its earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.52. The business had revenue of $100 million during the quarter, compared to analysts’ expectations of $100.40 million. Depomed had a negative return on equity of 45.03% and a negative net margin of 26.02%. The firm’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. Analysts predict that Depomed, Inc. will post $0.48 earnings per share for the current fiscal year.
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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