Depomed, Inc. (DEPO) Price Target Raised to $7.00 at UBS AG

Depomed, Inc. (NASDAQ:DEPO) had its target price hoisted by UBS AG from $6.00 to $7.00 in a research note published on Friday morning. They currently have a neutral rating on the specialty pharmaceutical company’s stock.

Several other equities analysts have also recently commented on DEPO. Royal Bank Of Canada dropped their target price on shares of Depomed from $8.00 to $6.00 and set a sector perform rating for the company in a research report on Wednesday, November 8th. ValuEngine cut shares of Depomed from a sell rating to a strong sell rating in a research report on Thursday, September 28th. Janney Montgomery Scott cut shares of Depomed from a buy rating to a neutral rating and lowered their price objective for the stock from $18.00 to $8.00 in a research report on Tuesday, August 8th. BidaskClub cut shares of Depomed from a sell rating to a strong sell rating in a research report on Saturday, August 5th. Finally, Piper Jaffray Companies reiterated a neutral rating and set a $9.00 price objective (down from $10.00) on shares of Depomed in a research report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $10.64.

Shares of Depomed (NASDAQ:DEPO) traded up $0.50 during trading hours on Friday, hitting $6.42. 3,121,900 shares of the stock traded hands, compared to its average volume of 1,643,626. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.90. Depomed has a one year low of $4.31 and a one year high of $21.56.

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

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Several large investors have recently bought and sold shares of DEPO. Dimensional Fund Advisors LP boosted its stake in shares of Depomed by 85.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,306,318 shares of the specialty pharmaceutical company’s stock valued at $24,770,000 after purchasing an additional 1,063,868 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Depomed by 14.6% in the 1st quarter. Vanguard Group Inc. now owns 4,791,200 shares of the specialty pharmaceutical company’s stock valued at $60,129,000 after purchasing an additional 609,722 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Depomed by 85.4% in the 3rd quarter. State of Wisconsin Investment Board now owns 955,200 shares of the specialty pharmaceutical company’s stock valued at $5,531,000 after purchasing an additional 440,000 shares during the last quarter. ING Groep NV bought a new stake in shares of Depomed in the 2nd quarter valued at $4,672,000. Finally, Clark Estates Inc. NY bought a new stake in shares of Depomed in the 2nd quarter valued at $3,329,000. 87.44% of the stock is currently owned by institutional investors.

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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