Royal Bank Of Canada Lowers Depomed, Inc. (DEPO) Price Target to $6.00
Depomed, Inc. (NASDAQ:DEPO) had its price objective lowered by Royal Bank Of Canada from $8.00 to $6.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “sector perform” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 31.58% from the stock’s previous close.
Several other brokerages have also recently issued reports on DEPO. ValuEngine upgraded shares of Depomed from a “strong sell” rating to a “sell” rating in a research report on Monday, September 11th. Piper Jaffray Companies set a $9.00 price target on shares of Depomed and gave the company a “hold” rating in a research report on Sunday, October 15th. BidaskClub cut shares of Depomed from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Mizuho reiterated a “neutral” rating and set a $6.00 price target (down previously from $11.00) on shares of Depomed in a research report on Friday, October 13th. Finally, Janney Montgomery Scott cut shares of Depomed from a “buy” rating to a “neutral” rating and reduced their price target for the company 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, five have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $12.54.
Depomed (NASDAQ DEPO) opened at $4.56 on Wednesday. Depomed has a 52-week low of $4.31 and a 52-week high of $23.29. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.75 and a current ratio of 0.79.
Depomed (NASDAQ:DEPO) last announced its quarterly earnings results on Monday, November 6th. The specialty pharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The company had revenue of $95.40 million for the quarter, compared to analysts’ expectations of $99.11 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. Depomed’s quarterly revenue was down 13.7% on a year-over-year basis. equities analysts expect that Depomed will post -1.36 earnings per share for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its stake in shares of 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. Piedmont Investment Advisors LLC bought a new position in shares of Depomed in the second quarter worth approximately $145,000. Captrust Financial Advisors bought a new position in shares of Depomed in the second quarter worth approximately $147,000. Municipal Employees Retirement System of Michigan lifted its stake in shares of 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. Finally, Tudor Investment Corp ET AL bought a new position in shares of Depomed in the first quarter worth approximately $248,000. Institutional investors and hedge funds own 90.83% of the company’s stock.
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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