Depomed Target of Unusually High Options Trading (DEPO)

Depomed, Inc. (NASDAQ:DEPO) was the target of unusually large options trading activity on Tuesday. Stock investors bought 1,897 call options on the stock. This represents an increase of 997% compared to the typical volume of 173 call options.

A number of analysts have recently weighed in on DEPO shares. ValuEngine raised shares of Depomed from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Royal Bank Of Canada set a $10.00 target price on shares of Depomed and gave the stock a “hold” rating in a research report on Friday, October 20th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $9.00 target price on shares of Depomed in a research report on Sunday, September 10th. UBS upped their target price on shares of Depomed from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. Finally, BidaskClub raised shares of Depomed from a “sell” rating to a “hold” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $11.34.

Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its position in Depomed by 79.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 12,298 shares of the specialty pharmaceutical company’s stock valued at $132,000 after purchasing an additional 5,448 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Depomed during the 2nd quarter valued at about $145,000. Captrust Financial Advisors purchased a new stake in Depomed during the 2nd quarter valued at about $147,000. Municipal Employees Retirement System of Michigan grew its position in Depomed by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock valued at $157,000 after purchasing an additional 590 shares during the last quarter. Finally, Aperio Group LLC purchased a new stake in Depomed during the 2nd quarter valued at about $214,000. 90.99% of the stock is currently owned by institutional investors.

Shares of Depomed (DEPO) opened at $8.33 on Friday. Depomed has a 1 year low of $4.31 and a 1 year high of $21.38. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.90.

Depomed (NASDAQ:DEPO) last announced its quarterly earnings data on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Depomed had a negative net margin of 27.73% and a negative return on equity of 51.07%. The company 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 firm posted $0.28 EPS. Depomed’s revenue for the quarter was down 13.7% on a year-over-year basis. equities analysts expect that Depomed will post -1.34 earnings per share for the current year.

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About Depomed

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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