Piper Jaffray Companies reissued their hold rating on shares of Depomed, Inc. (NASDAQ:DEPO) in a report released on Friday morning. Piper Jaffray Companies currently has a $5.00 target price on the specialty pharmaceutical company’s stock.
Several other analysts have also recently weighed in on the stock. UBS AG raised their price objective on shares of Depomed from $6.00 to $7.00 and gave the company a neutral rating in a research report on Friday. Morgan Stanley upgraded shares of Depomed from an underweight rating to an equal weight rating in a research report on Thursday, November 9th. Royal Bank Of Canada decreased their target price on shares of Depomed from $8.00 to $6.00 and set a sector perform rating on the stock in a research report on Wednesday, November 8th. Mizuho reiterated a neutral rating and issued a $6.00 target price (down previously from $11.00) on shares of Depomed in a research report on Friday, October 13th. Finally, ValuEngine cut shares of Depomed from a sell rating to a strong sell rating in a research report on Thursday, September 28th. Three research 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 company presently has an average rating of Hold and a consensus target price of $10.64.
Shares of Depomed (NASDAQ:DEPO) opened at $6.42 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.90. Depomed has a 52-week low of $4.31 and a 52-week high of $21.56.
Depomed (NASDAQ:DEPO) last posted its quarterly earnings data on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The firm had revenue of $95.40 million for 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%. The business’s quarterly revenue was down 13.7% on a year-over-year basis. During the same quarter last year, the company posted $0.28 EPS. equities analysts forecast that Depomed will post -1.34 earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in DEPO. Prudential Financial Inc. grew its holdings in Depomed by 1.0% in the 1st quarter. Prudential Financial Inc. now owns 105,386 shares of the specialty pharmaceutical company’s stock worth $1,323,000 after acquiring an additional 1,080 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in Depomed by 46.9% in the 1st quarter. OppenheimerFunds Inc. now owns 22,203 shares of the specialty pharmaceutical company’s stock worth $279,000 after acquiring an additional 7,087 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Depomed by 4.5% in the 1st quarter. Principal Financial Group Inc. now owns 473,727 shares of the specialty pharmaceutical company’s stock worth $5,945,000 after acquiring an additional 20,451 shares during the last quarter. Teachers Advisors LLC grew its holdings in Depomed by 1.8% in the 1st quarter. Teachers Advisors LLC now owns 157,112 shares of the specialty pharmaceutical company’s stock worth $1,972,000 after acquiring an additional 2,778 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Depomed by 0.7% in the 1st quarter. Legal & General Group Plc now owns 110,642 shares of the specialty pharmaceutical company’s stock worth $1,390,000 after acquiring an additional 761 shares during the last quarter. 87.44% of the stock is currently 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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