Depomed Inc. (DEPO) Receives Average Rating of “Hold” from Brokerages
Shares of Depomed Inc. (NASDAQ:DEPO) have been given an average recommendation of “Hold” by the thirteen research firms that are currently covering the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $23.15.
Several brokerages recently weighed in on DEPO. Leerink Swann restated a “buy” rating on shares of Depomed in a report on Sunday, October 2nd. Roth Capital set a $28.00 price objective on shares of Depomed and gave the company a “buy” rating in a report on Sunday, October 30th. Janney Montgomery Scott restated a “buy” rating and issued a $28.00 price objective on shares of Depomed in a report on Thursday, August 4th. Mizuho restated a “hold” rating and issued a $27.00 price objective on shares of Depomed in a report on Tuesday, November 8th. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Depomed in a report on Thursday, August 11th.
Shares of Depomed (NASDAQ:DEPO) opened at 20.84 on Wednesday. The firm’s market cap is $1.28 billion. The firm’s 50 day moving average is $23.55 and its 200-day moving average is $20.81. Depomed has a 52 week low of $12.25 and a 52 week high of $27.02.
Depomed (NASDAQ:DEPO) last announced its earnings results on Monday, November 7th. The specialty pharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.07. Depomed had a negative return on equity of 7.49% and a negative net margin of 16.93%. The company had revenue of $111 million for the quarter, compared to analyst estimates of $127.22 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. Depomed’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts predict that Depomed will post $1.04 EPS for the current year.
In related news, VP Thadd M. Vargas sold 11,250 shares of the firm’s stock in a transaction on 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 transaction, the vice president now owns 73,086 shares of the company’s stock, valued at $1,827,150. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.12% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in Depomed during the third quarter worth $120,000. BlackRock Inc. increased its position 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 during the period. PineBridge Investments L.P. increased its position 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 during the period. DIAM Co. Ltd. acquired a new position in Depomed during the second quarter worth $157,000. Finally, Teacher Retirement System of Texas increased its position 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 during the period.
Depomed Company Profile
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