Depomed Inc. (NASDAQ:DEPO)‘s stock had its “buy” rating reiterated by investment analysts at Janney Montgomery Scott in a research note issued to investors on Monday. They currently have a $31.00 target price on the specialty pharmaceutical company’s stock. Janney Montgomery Scott’s price target points to a potential upside of 28.68% from the stock’s current price.

Several other analysts also recently issued reports on DEPO. Cantor Fitzgerald reissued a “buy” rating on shares of Depomed in a research report on Wednesday, June 22nd. Mizuho reissued a “buy” rating on shares of Depomed in a research report on Sunday, June 26th. Royal Bank Of Canada reissued a “hold” rating on shares of Depomed in a research report on Monday, July 11th. Leerink Swann reissued a “positive” rating on shares of Depomed in a research report on Monday, July 18th. Finally, Piper Jaffray Cos. downgraded shares of Depomed from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $21.00 to $18.00 in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $23.14.

Analyst Recommendations for Depomed (NASDAQ:DEPO)

Depomed (NASDAQ:DEPO) traded down 0.33% on Monday, reaching $24.01. The company’s stock had a trading volume of 223,719 shares. Depomed has a 1-year low of $12.25 and a 1-year high of $27.02. The firm’s 50 day moving average price is $23.28 and its 200-day moving average price is $19.85. The company’s market capitalization is $1.47 billion.

Depomed (NASDAQ:DEPO) last announced its quarterly earnings data on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The company earned $116.70 million during the quarter, compared to the consensus estimate of $118.20 million. Depomed had a negative net margin of 16.89% and a positive return on equity of 3.71%. The company’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. Equities analysts forecast that Depomed will post $1.19 earnings per share for the current year.

In related news, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thadd M. Vargas sold 11,250 shares of the business’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $25.00, for a total value of $281,250.00. Following the completion of the sale, the vice president now owns 73,086 shares in the company, valued at $1,827,150. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Capstone Asset Management Co. boosted its stake in shares of Depomed by 17.5% in the second quarter. Capstone Asset Management Co. now owns 31,490 shares of the specialty pharmaceutical company’s stock worth $618,000 after buying an additional 4,690 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Depomed by 620.1% in the second quarter. BNP Paribas Arbitrage SA now owns 20,156 shares of the specialty pharmaceutical company’s stock worth $395,000 after buying an additional 17,357 shares in the last quarter. Opaleye Management Inc. boosted its stake in shares of Depomed by 8.3% in the first quarter. Opaleye Management Inc. now owns 325,000 shares of the specialty pharmaceutical company’s stock worth $4,527,000 after buying an additional 25,000 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Depomed by 32.9% in the first quarter. Squarepoint Ops LLC now owns 121,467 shares of the specialty pharmaceutical company’s stock worth $1,692,000 after buying an additional 30,082 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Depomed by 6.2% in the first quarter. Royal Bank of Canada now owns 13,301 shares of the specialty pharmaceutical company’s stock worth $186,000 after buying an additional 775 shares in the last quarter.

Depomed Company Profile

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