Depomed Inc. (NASDAQ:DEPO) Given Average Rating of “Hold” by Analysts
Shares of Depomed Inc. (NASDAQ:DEPO) have earned an average recommendation of “Hold” from the fourteen brokerages that are currently covering the firm. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $22.60.
A number of research analysts have recently issued reports on the stock. Mizuho reiterated a “buy” rating on shares of Depomed in a report on Sunday, June 26th. Leerink Swann reiterated a “buy” rating on shares of Depomed in a report on Sunday. Janney Montgomery Scott reiterated a “buy” rating and set a $31.00 price objective (up from $28.00) on shares of Depomed in a report on Tuesday. Piper Jaffray Cos. cut shares of Depomed from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $21.00 to $18.00 in a report on Wednesday, July 27th. Finally, Cantor Fitzgerald reiterated a “buy” rating on shares of Depomed in a report on Thursday, August 11th.
In other news, CFO August J. Moretti sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $21.40, for a total value of $107,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thadd M. Vargas sold 26,290 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $20.92, for a total transaction of $549,986.80. Following the completion of the sale, the vice president now directly owns 84,336 shares in the company, valued at approximately $1,764,309.12. The disclosure for this sale can be found here. 5.12% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Mason Street Advisors LLC acquired a new stake in Depomed during the second quarter valued at about $234,000. Schwab Charles Investment Management Inc. raised its stake in Depomed by 41.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 647,478 shares of the specialty pharmaceutical company’s stock valued at $12,704,000 after buying an additional 188,581 shares during the period. American Century Companies Inc. raised its stake in Depomed by 0.6% in the second quarter. American Century Companies Inc. now owns 70,780 shares of the specialty pharmaceutical company’s stock valued at $1,389,000 after buying an additional 450 shares during the period. Arizona State Retirement System raised its stake in Depomed by 1.6% in the second quarter. Arizona State Retirement System now owns 31,721 shares of the specialty pharmaceutical company’s stock valued at $622,000 after buying an additional 500 shares during the period. Finally, Clearline Capital LP acquired a new stake in Depomed during the second quarter valued at about $6,505,000.
Depomed (NASDAQ:DEPO) traded down 1.72% on Tuesday, reaching $25.14. 2,755,491 shares of the company’s stock traded hands. Depomed has a 52-week low of $12.25 and a 52-week high of $27.02. The stock’s market cap is $1.54 billion. The company’s 50 day moving average is $22.17 and its 200-day moving average is $19.22.
Depomed (NASDAQ:DEPO) last issued its quarterly earnings data on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The firm earned $116.70 million during the quarter, compared to analysts’ expectations of $118.20 million. Depomed had a negative net margin of 16.89% and a positive return on equity of 3.71%. The business’s revenue was up 23.5% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. Equities analysts expect that Depomed will post $1.19 EPS for the current year.
Depomed Company Profile
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