Rhumbline Advisers cut its holdings in Depomed, Inc. (NASDAQ:DEPO) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,465 shares of the specialty pharmaceutical company’s stock after selling 3,886 shares during the period. Rhumbline Advisers owned about 0.20% of Depomed worth $1,337,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State of Wisconsin Investment Board boosted its position in shares of Depomed by 151.9% in the 1st quarter. State of Wisconsin Investment Board now owns 202,000 shares of the specialty pharmaceutical company’s stock worth $2,535,000 after buying an additional 121,800 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Depomed by 76.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 51,687 shares of the specialty pharmaceutical company’s stock worth $658,000 after buying an additional 22,422 shares in the last quarter. Litespeed Management L.L.C. boosted its position in shares of Depomed by 55.0% in the 1st quarter. Litespeed Management L.L.C. now owns 1,833,698 shares of the specialty pharmaceutical company’s stock worth $23,013,000 after buying an additional 650,746 shares in the last quarter. Mason Street Advisors LLC boosted its position in shares of Depomed by 7.9% in the 1st 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. Finally, Airain ltd purchased a new stake in shares of Depomed in the 1st quarter worth about $128,000. Institutional investors and hedge funds own 91.25% of the company’s stock.

Several equities research analysts recently commented on the stock. Morgan Stanley lowered shares of Depomed from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $12.00 to $5.00 in a research report on Tuesday, August 8th. ValuEngine upgraded shares of 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 price objective on shares of Depomed and gave the stock a “hold” rating in a research report on Sunday, July 16th. Piper Jaffray Companies reiterated a “hold” rating and issued a $9.00 price objective on shares of Depomed in a research report on Sunday, September 10th. Finally, Janney Montgomery Scott lowered shares of Depomed from a “buy” rating to a “neutral” rating and decreased 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 given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $14.59.

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Depomed, Inc. (NASDAQ:DEPO) opened at 5.92 on Friday. Depomed, Inc. has a 12-month low of $5.81 and a 12-month high of $27.02. The stock’s market capitalization is $372.89 million. The firm has a 50-day moving average of $6.69 and a 200-day moving average of $10.50.

Depomed (NASDAQ:DEPO) last released its quarterly earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $100.00 million during the quarter, compared to analyst estimates of $100.40 million. During the same quarter last year, the business earned $0.27 EPS. The company’s revenue for the quarter was down 14.3% compared to the same quarter last year. Equities research analysts forecast that Depomed, Inc. will post $0.48 earnings per share for the current fiscal year.

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).

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Institutional Ownership by Quarter for Depomed (NASDAQ:DEPO)

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