Gamco Investors INC. ET AL Buys 8,000 Shares of Depomed, Inc. (DEPO)
Gamco Investors INC. ET AL increased its position in Depomed, Inc. (NASDAQ:DEPO) by 17.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,000 shares of the specialty pharmaceutical company’s stock after buying an additional 8,000 shares during the period. Gamco Investors INC. ET AL owned 0.09% of Depomed worth $591,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Airain ltd bought a new stake in Depomed during the first quarter worth approximately $128,000. State of Alaska Department of Revenue boosted its stake in Depomed by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 12,298 shares of the specialty pharmaceutical company’s stock worth $132,000 after buying an additional 5,448 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Depomed by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock worth $157,000 after buying an additional 590 shares in the last quarter. Two Sigma Securities LLC bought a new stake in Depomed during the first quarter worth approximately $180,000. Finally, Mason Street Advisors LLC boosted its stake in Depomed by 7.9% in the first quarter. Mason Street Advisors LLC now owns 14,521 shares of the specialty pharmaceutical company’s stock worth $182,000 after buying an additional 1,064 shares in the last quarter. Hedge funds and other institutional investors own 91.25% of the company’s stock.
Shares of Depomed, Inc. (DEPO) opened at 6.11 on Wednesday. Depomed, Inc. has a 12-month low of $5.86 and a 12-month high of $27.02. The stock’s market cap is $384.86 million. The firm has a 50-day moving average price of $8.77 and a 200 day moving average price of $11.77.
Depomed (NASDAQ:DEPO) last released its earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share (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 analyst estimates of $100.40 million. Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. Depomed’s revenue was down 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. Equities research analysts predict that Depomed, Inc. will post $0.48 EPS for the current fiscal year.
DEPO has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated a “hold” rating and set a $13.00 price objective on shares of Depomed in a research report on Tuesday, June 13th. Cantor Fitzgerald set a $14.00 price objective on Depomed and gave the stock a “hold” rating in a research report on Monday, May 15th. Mizuho dropped their price objective on Depomed from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, May 25th. Piper Jaffray Companies upgraded Depomed from an “underweight” rating to a “neutral” rating and dropped their price objective for the stock from $11.00 to $10.00 in a research report on Wednesday, May 10th. Finally, Janney Montgomery Scott cut Depomed from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $8.00 in a research report on Tuesday, August 8th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Depomed currently has an average rating of “Hold” and a consensus target price of $14.59.
In related news, insider Arthur J. Higgins bought 15,000 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were acquired at an average price of $9.92 per share, with a total value of $148,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.59% of the stock is currently owned by insiders.
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).
Want to see what other hedge funds are holding DEPO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Depomed, Inc. (NASDAQ:DEPO).
Receive News & Stock Ratings for Depomed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Depomed Inc. and related stocks with our FREE daily email newsletter.