BidaskClub cut shares of Depomed (NASDAQ:DEPO) from a sell rating to a strong sell rating in a research note published on Wednesday morning.

A number of other equities research analysts also recently issued reports on the company. Piper Jaffray Companies restated a hold rating and set a $5.00 price objective on shares of Depomed in a research report on Friday, November 10th. Morgan Stanley raised Depomed from an underweight rating to an equal weight rating in a research note on Thursday, November 9th. Royal Bank of Canada set a $9.00 target price on Depomed and gave the company a hold rating in a research note on Thursday, December 7th. Mizuho reaffirmed a neutral rating and set a $6.00 target price (down previously from $11.00) on shares of Depomed in a research note on Friday, October 13th. Finally, ValuEngine raised Depomed from a strong sell rating to a sell rating in a research note on Tuesday, December 5th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $11.64.

Shares of Depomed (NASDAQ DEPO) opened at $6.82 on Wednesday. Depomed has a 52-week low of $4.31 and a 52-week high of $17.86. 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, beating analysts’ consensus estimates of $0.12 by $0.02. Depomed had a negative return on equity of 51.07% and a negative net margin of 27.73%. The business had revenue of $95.40 million for the quarter, compared to the consensus estimate of $99.11 million. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s quarterly revenue was down 13.7% compared to the same quarter last year. analysts predict that Depomed will post -1.34 earnings per share for the current year.

In other Depomed news, insider Arthur J. Higgins bought 75,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were purchased at an average price of $8.16 per share, with a total value of $612,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.59% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Nationwide Fund Advisors grew its stake in Depomed by 1.5% in the second quarter. Nationwide Fund Advisors now owns 35,938 shares of the specialty pharmaceutical company’s stock worth $386,000 after purchasing an additional 533 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Depomed by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 333,508 shares of the specialty pharmaceutical company’s stock worth $3,581,000 after purchasing an additional 2,056 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Depomed by 7.5% in the second quarter. Thrivent Financial For Lutherans now owns 37,590 shares of the specialty pharmaceutical company’s stock worth $404,000 after purchasing an additional 2,630 shares in the last quarter. Voya Investment Management LLC grew its stake in Depomed by 10.4% in the second quarter. Voya Investment Management LLC now owns 29,495 shares of the specialty pharmaceutical company’s stock worth $317,000 after purchasing an additional 2,790 shares in the last quarter. Finally, Alps Advisors Inc. grew its stake in Depomed by 12.5% in the fourth quarter. Alps Advisors Inc. now owns 69,769 shares of the specialty pharmaceutical company’s stock worth $562,000 after purchasing an additional 7,762 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

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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).

Analyst Recommendations for Depomed (NASDAQ:DEPO)

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