Schwab Charles Investment Management Inc. decreased its stake in shares of Depomed, Inc. (NASDAQ:DEPO) by 48.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 335,585 shares of the specialty pharmaceutical company’s stock after selling 313,275 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.54% of Depomed worth $4,212,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the stock. State of Wisconsin Investment Board boosted its position in Depomed by 151.9% in the first quarter. State of Wisconsin Investment Board now owns 202,000 shares of the specialty pharmaceutical company’s stock valued at $2,535,000 after buying an additional 121,800 shares during the period. State of Tennessee Treasury Department boosted its position in shares of Depomed by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 56,811 shares of the specialty pharmaceutical company’s stock valued at $713,000 after buying an additional 8,574 shares during the period. Gabelli Funds LLC boosted its position in shares of Depomed by 547.1% in the first quarter. Gabelli Funds LLC now owns 220,000 shares of the specialty pharmaceutical company’s stock valued at $2,761,000 after buying an additional 186,000 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Depomed by 213.3% in the first quarter. Gamco Investors INC. ET AL now owns 47,000 shares of the specialty pharmaceutical company’s stock valued at $590,000 after buying an additional 32,000 shares during the period. Finally, Comerica Bank boosted its position in shares of Depomed by 2.5% in the first quarter. Comerica Bank now owns 108,195 shares of the specialty pharmaceutical company’s stock valued at $1,315,000 after buying an additional 2,659 shares during the period. Institutional investors own 92.78% of the company’s stock.

Depomed, Inc. (NASDAQ:DEPO) traded down 0.63% on Monday, reaching $6.28. The company had a trading volume of 247,451 shares. The company’s 50 day moving average price is $10.06 and its 200-day moving average price is $12.61. Depomed, Inc. has a 12 month low of $5.95 and a 12 month high of $27.02. The company’s market capitalization is $395.56 million.

Depomed (NASDAQ:DEPO) last released its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by $0.52. The company had revenue of $100 million during the quarter, compared to the consensus estimate of $100.40 million. Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The company’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 EPS. On average, equities analysts predict that Depomed, Inc. will post $0.51 earnings per share for the current fiscal year.

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Several equities analysts recently issued reports on DEPO shares. Cantor Fitzgerald set a $14.00 price objective on Depomed and gave the stock a “hold” rating in a research note on Monday, May 15th. Royal Bank Of Canada reduced their price objective on Depomed from $19.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 10th. Piper Jaffray Companies upgraded Depomed from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $11.00 to $10.00 in a research note on Wednesday, May 10th. BidaskClub cut Depomed from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Finally, Mizuho reduced their price objective on Depomed from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, May 25th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Depomed presently has a consensus rating of “Hold” and a consensus target price of $14.59.

In related news, insider Arthur J. Higgins acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was acquired at an average price of $9.92 per share, for a total transaction of $148,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.59% of the company’s stock.

Depomed Company Profile

Depomed, Inc is a specialty pharmaceutical company. The Company focuses on pain and other central nervous system (CNS) conditions. Its products include NUCYNTA ER (tapentadol extended release tablets), NUCYNTA IR (NUCYNTA) (tapentadol), Gralise (gabapentin), CAMBIA (diclofenac potassium for oral solution), Zipsor (diclofenac potassium) and Lazanda (fentanyl).

Institutional Ownership by Quarter for Depomed (NASDAQ:DEPO)

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