Depomed, Inc. (DEPO) Receives $14.59 Average Price Target from Brokerages
Depomed, Inc. (NASDAQ:DEPO) has received a consensus rating of “Hold” from the fourteen brokerages that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $14.59.
Several brokerages recently commented on DEPO. Morgan Stanley lowered Depomed from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $12.00 to $5.00 in a research report on Tuesday, August 8th. ValuEngine upgraded Depomed from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Royal Bank Of Canada set a $13.00 target price on Depomed and gave the company a “hold” rating in a research report on Sunday, July 16th. Janney Montgomery Scott lowered Depomed from a “buy” rating to a “neutral” rating and cut their target price for the company from $18.00 to $8.00 in a research report on Tuesday, August 8th. Finally, BidaskClub lowered Depomed from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th.
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In other news, insider Arthur J. Higgins purchased 15,000 shares of the business’s stock in a transaction on Monday, June 12th. The shares were acquired at an average price of $9.92 per share, for a total transaction of $148,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.59% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in DEPO. Stevens Capital Management LP purchased a new position in shares of Depomed during the first quarter valued at about $603,000. State of Wisconsin Investment Board raised its position in shares of 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 last quarter. State of Tennessee Treasury Department raised 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 last quarter. Gabelli Funds LLC raised 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 last quarter. Finally, Gamco Investors INC. ET AL raised 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 last quarter. Institutional investors and hedge funds own 92.78% of the company’s stock.
Shares of Depomed (DEPO) traded down 2.14% during midday trading on Friday, reaching $6.41. The company’s stock had a trading volume of 204,362 shares. The firm’s market cap is $403.75 million. Depomed has a 12 month low of $5.88 and a 12 month high of $27.02. The company has a 50-day moving average price of $9.39 and a 200-day moving average price of $12.20.
Depomed (NASDAQ:DEPO) last announced its earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.09 by $0.52. Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The business had revenue of $100 million for the quarter, compared to the consensus estimate of $100.40 million. During the same quarter in the previous year, the company earned $0.27 EPS. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. Equities analysts expect that Depomed will post $0.48 earnings per share for the current year.
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).
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