Depomed Inc. (DEPO) Downgraded by Mizuho to “Neutral”
Mizuho cut shares of Depomed Inc. (NASDAQ:DEPO) from a buy rating to a neutral rating in a research report released on Monday. The brokerage currently has $27.00 price objective on the specialty pharmaceutical company’s stock.
A number of other analysts have also commented on the company. Janney Montgomery Scott reissued a buy rating and issued a $28.00 target price on shares of Depomed in a report on Wednesday, September 14th. Piper Jaffray Cos. reissued a neutral rating and issued a $19.00 target price (up previously from $18.00) on shares of Depomed in a report on Thursday, August 4th. Cantor Fitzgerald reissued a buy rating on shares of Depomed in a report on Wednesday, June 22nd. JMP Securities reduced their target price on Depomed from $28.00 to $22.00 and set a market outperform rating for the company in a report on Thursday, August 4th. Finally, Leerink Swann reissued a positive rating on shares of Depomed in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Depomed has an average rating of Hold and an average price target of $22.91.
Shares of Depomed (NASDAQ:DEPO) opened at 25.12 on Monday. The stock’s market cap is $1.54 billion. Depomed has a one year low of $12.25 and a one year high of $27.02. The company’s 50-day moving average price is $22.17 and its 200-day moving average price is $19.22.
Depomed (NASDAQ:DEPO) last posted its earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The business earned $116.70 million during the quarter, compared to analyst estimates of $118.20 million. Depomed had a positive return on equity of 3.71% and a negative net margin of 16.89%. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. Equities research analysts anticipate that Depomed will post $1.19 earnings per share for the current year.
In other news, VP Thadd M. Vargas sold 26,290 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $20.92, for a total value of $549,986.80. Following the transaction, the vice president now directly owns 84,336 shares in the company, valued at $1,764,309.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO August J. Moretti sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $21.40, for a total value of $107,000.00. The disclosure for this sale can be found here. 5.12% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of DEPO. BlackRock Inc. increased its stake in Depomed by 197.5% in the second quarter. BlackRock Inc. now owns 5,137 shares of the specialty pharmaceutical company’s stock worth $101,000 after buying an additional 3,410 shares in the last quarter. PineBridge Investments L.P. increased its stake in Depomed by 4.1% in the second quarter. PineBridge Investments L.P. now owns 7,748 shares of the specialty pharmaceutical company’s stock worth $152,000 after buying an additional 306 shares in the last quarter. DIAM Co. Ltd. purchased a new stake in Depomed during the second quarter worth approximately $157,000. Acrospire Investment Management LLC purchased a new stake in Depomed during the first quarter worth approximately $114,000. Finally, Teacher Retirement System of Texas increased its stake in Depomed by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 8,482 shares of the specialty pharmaceutical company’s stock worth $166,000 after buying an additional 1,024 shares in the last quarter.
Depomed Company Profile
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