Depomed Inc. (NASDAQ:DEPO) has been assigned a $27.00 target price by equities researchers at Roth Capital in a note issued to investors on Monday. The firm currently has a “buy” rating on the specialty pharmaceutical company’s stock. Roth Capital’s target price would suggest a potential upside of 36.85% from the company’s current price.

Several other research firms also recently weighed in on DEPO. Janney Montgomery Scott reissued a “buy” rating and issued a $28.00 price target on shares of Depomed in a research note on Wednesday, September 14th. Mizuho reissued a “buy” rating and issued a $23.00 price target on shares of Depomed in a research note on Thursday, August 4th. Piper Jaffray Cos. reissued a “neutral” rating and issued a $19.00 price target (up from $18.00) on shares of Depomed in a research note on Thursday, August 4th. JMP Securities decreased their price target on shares of Depomed from $28.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 4th. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Depomed in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Depomed currently has an average rating of “Hold” and an average price target of $22.99.

Analyst Recommendations for Depomed (NASDAQ:DEPO)

Depomed (NASDAQ:DEPO) opened at 19.73 on Monday. The firm has a 50-day moving average of $22.27 and a 200-day moving average of $21.13. Depomed has a 52 week low of $12.25 and a 52 week high of $27.02. The company’s market capitalization is $1.21 billion.

Depomed (NASDAQ:DEPO) last posted its quarterly earnings data on Monday, November 7th. The specialty pharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.07. The company had revenue of $111 million for the quarter, compared to analysts’ expectations of $127.22 million. Depomed had a negative net margin of 16.93% and a negative return on equity of 7.49%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. Analysts anticipate that Depomed will post $1.04 EPS for the current fiscal year.

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In related news, CFO August J. Moretti sold 5,000 shares of Depomed stock in a transaction that occurred 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 transaction, the chief financial officer now owns 26,680 shares in the company, valued at $556,011.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thadd M. Vargas sold 11,250 shares of Depomed stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $25.00, for a total transaction 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 approximately $1,827,150. The disclosure for this sale can be found here. Company insiders own 5.12% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in DEPO. Vanguard Group Inc. boosted its position in shares of Depomed by 3.0% in the second quarter. Vanguard Group Inc. now owns 4,011,298 shares of the specialty pharmaceutical company’s stock worth $78,702,000 after buying an additional 117,400 shares during the period. State Street Corp boosted its position in shares of Depomed by 5.5% in the second quarter. State Street Corp now owns 2,254,208 shares of the specialty pharmaceutical company’s stock worth $44,229,000 after buying an additional 116,573 shares during the period. Glenmede Trust Co. NA boosted its position in shares of Depomed by 5.4% in the second quarter. Glenmede Trust Co. NA now owns 2,040,470 shares of the specialty pharmaceutical company’s stock worth $40,033,000 after buying an additional 104,637 shares during the period. Naya Capital Management UK Ltd. boosted its position in shares of Depomed by 27.2% in the third quarter. Naya Capital Management UK Ltd. now owns 1,983,068 shares of the specialty pharmaceutical company’s stock worth $49,557,000 after buying an additional 423,477 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Depomed by 6.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,593,101 shares of the specialty pharmaceutical company’s stock worth $39,780,000 after buying an additional 102,225 shares during the period.

Depomed Company Profile

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