OxFORD Asset Management LLP Buys 87,332 Shares of Depomed, Inc. (DEPO)
OxFORD Asset Management LLP increased its stake in Depomed, Inc. (NASDAQ:DEPO) by 22.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 470,451 shares of the specialty pharmaceutical company’s stock after acquiring an additional 87,332 shares during the quarter. OxFORD Asset Management LLP owned approximately 0.75% of Depomed worth $2,764,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Teachers Advisors LLC grew its holdings in shares of Depomed by 1.8% during the first quarter. Teachers Advisors LLC now owns 157,112 shares of the specialty pharmaceutical company’s stock valued at $1,972,000 after buying an additional 2,778 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Depomed during the first quarter valued at $2,741,000. Louisiana State Employees Retirement System grew its holdings in shares of Depomed by 0.4% during the second quarter. Louisiana State Employees Retirement System now owns 25,400 shares of the specialty pharmaceutical company’s stock valued at $273,000 after buying an additional 100 shares in the last quarter. Aperio Group LLC purchased a new position in shares of Depomed during the second quarter valued at $214,000. Finally, Municipal Employees Retirement System of Michigan grew its holdings in shares of Depomed by 4.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock valued at $157,000 after buying an additional 590 shares in the last quarter. Institutional investors and hedge funds own 90.99% of the company’s stock.
DEPO has been the topic of a number of research analyst reports. Morgan Stanley upgraded Depomed from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 9th. ValuEngine upgraded Depomed from a “strong sell” rating to a “sell” rating in a report on Monday, September 11th. Piper Jaffray Companies set a $9.00 price target on Depomed and gave the company a “hold” rating in a report on Sunday, October 15th. Royal Bank Of Canada lowered their price target on Depomed from $8.00 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 8th. Finally, Mizuho upgraded Depomed from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $11.64.
Depomed (NASDAQ:DEPO) last released its quarterly earnings data on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 51.07% and a negative net margin of 27.73%. The business’s revenue for the quarter was down 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. sell-side analysts predict that Depomed, Inc. will post -1.34 earnings per share for the current fiscal year.
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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