Depomed Inc. (NASDAQ:DEPO) – Research analysts at Roth Capital cut their FY2016 earnings per share (EPS) estimates for shares of Depomed in a research report issued on Monday. Roth Capital analyst S. Henry now forecasts that the firm will post earnings of ($0.81) per share for the year, down from their previous forecast of ($0.76). Roth Capital currently has a “Buy” rating and a $28.00 target price on the stock. Roth Capital also issued estimates for Depomed’s Q4 2016 earnings at ($0.07) EPS, Q1 2017 earnings at ($0.03) EPS, Q4 2017 earnings at $0.11 EPS and FY2018 earnings at $0.79 EPS.

Several other brokerages also recently commented on DEPO. Mizuho reiterated a “hold” rating and set a $27.00 price target on shares of Depomed in a report on Tuesday, November 8th. Piper Jaffray Cos. downgraded Depomed from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $18.00 in a report on Wednesday, July 27th. Janney Montgomery Scott reiterated a “buy” rating and set a $31.00 price target on shares of Depomed in a report on Monday, October 17th. JMP Securities lowered their price target on Depomed from $28.00 to $22.00 and set a “market outperform” rating on the stock in a report on Thursday, August 4th. Finally, Leerink Swann reissued a “buy” rating on shares of Depomed in a research report on Sunday, October 2nd. One 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 company presently has an average rating of “Hold” and a consensus target price of $23.06.

Earnings History and Estimates for Depomed (NASDAQ:DEPO)

Depomed (NASDAQ:DEPO) traded up 0.50% during mid-day trading on Wednesday, reaching $20.24. 381,225 shares of the company’s stock traded hands. The stock’s market capitalization is $1.25 billion. Depomed has a 12 month low of $12.25 and a 12 month high of $27.02. The firm’s 50-day moving average price is $22.80 and its 200 day moving average price is $21.05.

Depomed (NASDAQ:DEPO) last released its earnings results on Monday, November 7th. The specialty pharmaceutical company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.07. Depomed had a negative net margin of 16.93% and a negative return on equity of 7.49%. The business had revenue of $111 million for the quarter, compared to the consensus estimate of $127.22 million. During the same quarter in the previous year, the firm earned $0.33 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis.

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in shares of Depomed during the third quarter worth $120,000. BlackRock Inc. raised its stake in shares of 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. raised its stake in shares of 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 stake in shares of Depomed during the second quarter worth $157,000. Finally, Teacher Retirement System of Texas raised its stake in shares of 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.

In other news, VP Thadd M. Vargas sold 11,250 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was 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 directly owns 73,086 shares in the company, valued at $1,827,150. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO August J. Moretti sold 5,000 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $20.84, for a total value of $104,200.00. Following the completion of the sale, the chief financial officer now owns 26,680 shares of the company’s stock, valued at $556,011.20. The disclosure for this sale can be found here. Company insiders own 5.12% of the company’s stock.

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Depomed Company Profile

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