Depomed, Inc. (DEPO) Position Decreased by Capital Fund Management S.A.
Capital Fund Management S.A. cut its holdings in shares of Depomed, Inc. (NASDAQ:DEPO) by 85.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,096 shares of the specialty pharmaceutical company’s stock after selling 306,693 shares during the quarter. Capital Fund Management S.A. owned about 0.08% of Depomed worth $560,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of DEPO. Airain ltd acquired a new position in shares of Depomed during the 1st quarter worth approximately $128,000. State of Alaska Department of Revenue increased its holdings in shares of Depomed by 79.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 12,298 shares of the specialty pharmaceutical company’s stock worth $132,000 after acquiring an additional 5,448 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Depomed by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock worth $157,000 after acquiring an additional 590 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of Depomed during the 1st quarter worth approximately $180,000. Finally, Mason Street Advisors LLC increased its holdings in shares of Depomed by 7.9% during the 1st quarter. Mason Street Advisors LLC now owns 14,521 shares of the specialty pharmaceutical company’s stock worth $182,000 after acquiring an additional 1,064 shares during the last quarter. 91.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of Depomed, Inc. (NASDAQ DEPO) opened at 6.19 on Monday. The company’s market capitalization is $389.90 million. Depomed, Inc. has a 1-year low of $5.81 and a 1-year high of $27.02. The company has a 50-day moving average price of $6.94 and a 200 day moving average price of $10.72.
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 the Zacks’ consensus estimate of $0.09 by ($0.52). Depomed had a negative return on equity of 45.03% and a negative net margin of 26.02%. The firm had revenue of $100.00 million during the quarter, compared to analysts’ expectations of $100.40 million. During the same period in the prior year, the business earned $0.27 earnings per share. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. Equities research analysts anticipate that Depomed, Inc. will post $0.48 EPS for the current year.
DEPO has been the topic of a number of recent analyst reports. Mizuho decreased their target price on Depomed from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, May 25th. Royal Bank Of Canada reissued a “hold” rating and set a $13.00 target price on shares of Depomed in a report on Tuesday, June 13th. ValuEngine raised Depomed from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. BidaskClub lowered Depomed from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Morgan Stanley lowered Depomed from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $12.00 to $5.00 in a 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 given a buy rating to the stock. Depomed has an average rating of “Hold” and a consensus price target of $14.59.
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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