Depomed, Inc. (DEPO) PT Raised to $7.00
Depomed, Inc. (NASDAQ:DEPO) had its price target upped by UBS AG from $6.00 to $7.00 in a note issued to investors on Friday. The firm presently has a “neutral” rating on the specialty pharmaceutical company’s stock. UBS AG’s price objective points to a potential upside of 9.03% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on DEPO. Royal Bank Of Canada set a $13.00 price objective on shares of Depomed and gave the stock a “hold” rating in a report on Sunday, July 16th. BidaskClub cut shares of Depomed from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Janney Montgomery Scott cut 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 report on Tuesday, August 8th. Morgan Stanley cut shares of Depomed from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $12.00 to $5.00 in a report on Tuesday, August 8th. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $9.00 price target (down from $10.00) on shares of Depomed in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $10.64.
Shares of Depomed (NASDAQ DEPO) traded up $0.50 during trading hours on Friday, reaching $6.42. 3,121,900 shares of the company were exchanged, compared to its average volume of 1,643,626. Depomed has a 12-month low of $4.31 and a 12-month high of $21.56. The company has a debt-to-equity ratio of 2.90, a current ratio of 0.83 and a quick ratio of 0.79.
Depomed (NASDAQ:DEPO) last issued its quarterly earnings data on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. The firm had revenue of $95.40 million during the quarter, compared to analysts’ expectations of $99.11 million. Depomed had a negative net margin of 27.73% and a negative return on equity of 51.07%. Depomed’s revenue for the quarter was down 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. equities analysts anticipate that Depomed will post -1.34 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Sivik Global Healthcare LLC acquired a new position in shares of Depomed during the second quarter valued at about $1,933,000. Systematic Financial Management LP acquired a new position in shares of Depomed during the second quarter valued at about $1,801,000. State of Wisconsin Investment Board raised its position in shares of Depomed by 155.0% during the second quarter. State of Wisconsin Investment Board now owns 515,200 shares of the specialty pharmaceutical company’s stock valued at $5,533,000 after buying an additional 313,200 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Depomed during the second quarter valued at about $442,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Depomed during the second quarter valued at about $2,834,000. 87.44% of the stock is owned by institutional investors and hedge funds.
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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