TSP Capital Management Group LLC cut its stake in Depomed, Inc. (NASDAQ:DEPO) by 28.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,875 shares of the specialty pharmaceutical company’s stock after selling 17,375 shares during the period. TSP Capital Management Group LLC owned 0.07% of Depomed worth $460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its position in shares of Depomed by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the specialty pharmaceutical company’s stock valued at $318,000 after buying an additional 500 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Depomed during the first quarter valued at $494,000. Great West Life Assurance Co. Can boosted its position in shares of Depomed by 6.8% in the first quarter. Great West Life Assurance Co. Can now owns 84,148 shares of the specialty pharmaceutical company’s stock valued at $1,055,000 after buying an additional 5,324 shares in the last quarter. Hussman Strategic Advisors Inc. boosted its position in shares of Depomed by 102.8% in the first quarter. Hussman Strategic Advisors Inc. now owns 304,200 shares of the specialty pharmaceutical company’s stock valued at $3,818,000 after buying an additional 154,200 shares in the last quarter. Finally, Capital Fund Management S.A. boosted its position in shares of Depomed by 2,231.0% in the first quarter. Capital Fund Management S.A. now owns 358,789 shares of the specialty pharmaceutical company’s stock valued at $4,503,000 after buying an additional 343,397 shares in the last quarter. Hedge funds and other institutional investors own 91.25% of the company’s stock.

Shares of Depomed, Inc. (NASDAQ:DEPO) opened at 6.11 on Tuesday. Depomed, Inc. has a 52-week low of $5.86 and a 52-week high of $27.02. The stock has a 50 day moving average price of $8.77 and a 200-day moving average price of $11.77. The stock’s market capitalization is $384.86 million.

Depomed (NASDAQ:DEPO) last issued its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.52. The business had revenue of $100 million for the quarter, compared to analyst estimates of $100.40 million. Depomed had a negative return on equity of 45.03% and a negative net margin of 26.02%. The business’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. On average, equities research analysts anticipate that Depomed, Inc. will post $0.48 EPS for the current fiscal year.

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DEPO has been the subject of several recent research reports. Morgan Stanley cut Depomed from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $12.00 to $5.00 in a research report on Tuesday, August 8th. BidaskClub cut Depomed from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Cantor Fitzgerald set a $14.00 price target on Depomed and gave the company a “hold” rating in a research report on Monday, May 15th. Piper Jaffray Companies upgraded Depomed from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $11.00 to $10.00 in a research report on Wednesday, May 10th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $13.00 price target on shares of Depomed in a research report on Tuesday, June 13th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $14.59.

In other Depomed news, insider Arthur J. Higgins acquired 15,000 shares of Depomed stock in a transaction dated Monday, June 12th. The stock was acquired at an average cost of $9.92 per share, for a total transaction of $148,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.59% of the company’s stock.

About Depomed

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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