Depomed, Inc. (NASDAQ:DEPO) rose 9.2% on Monday . The company traded as high as $6.87 and last traded at $6.68. Approximately 2,326,006 shares traded hands during mid-day trading, an increase of 37% from the average daily volume of 1,698,780 shares. The stock had previously closed at $6.12.
DEPO has been the topic of several recent research reports. Mizuho lowered their price objective on Depomed from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, May 25th. ValuEngine upgraded Depomed from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Royal Bank Of Canada reiterated a “hold” rating and set a $13.00 price objective on shares of Depomed in a research report on Tuesday, June 13th. BidaskClub cut Depomed from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Janney Montgomery Scott cut Depomed from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $8.00 in a research report on Tuesday, August 8th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.59.
The company’s market cap is $415.72 million. The stock has a 50 day moving average of $7.42 and a 200-day moving average of $10.93.
Depomed (NASDAQ:DEPO) last released its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.52). Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The company had revenue of $100.00 million for the quarter, compared to the consensus estimate of $100.40 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that Depomed, Inc. will post $0.48 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its stake in shares of Depomed by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,400 shares of the specialty pharmaceutical company’s stock valued at $273,000 after purchasing an additional 100 shares during the period. TSP Capital Management Group LLC raised its stake in shares of Depomed by 0.3% during the 1st quarter. TSP Capital Management Group LLC now owns 60,250 shares of the specialty pharmaceutical company’s stock valued at $756,000 after purchasing an additional 200 shares during the period. Arizona State Retirement System raised its stake in shares of Depomed by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 32,521 shares of the specialty pharmaceutical company’s stock valued at $349,000 after purchasing an additional 200 shares during the period. Texas Permanent School Fund raised its stake in shares of Depomed by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 45,478 shares of the specialty pharmaceutical company’s stock valued at $488,000 after purchasing an additional 517 shares during the period. Finally, Nationwide Fund Advisors raised its stake in shares of Depomed by 1.5% during the 2nd quarter. Nationwide Fund Advisors now owns 35,938 shares of the specialty pharmaceutical company’s stock valued at $386,000 after purchasing an additional 533 shares during the period. Institutional investors own 91.25% of the company’s stock.
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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).
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