Shares of Depomed Inc (NASDAQ:DEPO) have received a consensus rating of “Hold” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $8.67.

A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of Depomed from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. BidaskClub raised shares of Depomed from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th. Royal Bank of Canada set a $8.00 price target on shares of Depomed and gave the stock a “hold” rating in a report on Wednesday, August 8th. Finally, Janney Montgomery Scott raised shares of Depomed from a “neutral” rating to a “buy” rating and raised their price target for the stock from $7.00 to $10.00 in a report on Monday, July 9th.

Shares of Depomed stock opened at $7.30 on Tuesday. The firm has a market capitalization of $461.47 million, a price-to-earnings ratio of -5.79 and a beta of 1.27. Depomed has a 12-month low of $4.31 and a 12-month high of $9.48. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.53 and a current ratio of 0.55.

Depomed (NASDAQ:DEPO) last announced its quarterly earnings results on Wednesday, August 8th. The specialty pharmaceutical company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $63.27 million for the quarter, compared to analyst estimates of $63.72 million. Depomed had a negative net margin of 9.52% and a negative return on equity of 13.22%. The company’s revenue was down 37.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. research analysts expect that Depomed will post -0.48 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. First Republic Investment Management Inc. bought a new stake in shares of Depomed during the 2nd quarter valued at about $100,000. ClariVest Asset Management LLC bought a new stake in shares of Depomed during the 1st quarter valued at about $108,000. Fox Run Management L.L.C. bought a new stake in shares of Depomed during the 2nd quarter valued at about $128,000. Sun Life Financial INC bought a new stake in shares of Depomed during the 2nd quarter valued at about $186,000. Finally, Element Capital Management LLC bought a new stake in shares of Depomed during the 1st quarter valued at about $197,000. 98.87% of the stock is currently owned by institutional investors and hedge funds.

Depomed Company Profile

Depomed, Inc, a specialty pharmaceutical company, engages in the development, sale, and licensing of products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the management of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; and Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults.

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Analyst Recommendations for Depomed (NASDAQ:DEPO)

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