Depomed, Inc. (NASDAQ:DEPO) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, July 11th.
Other analysts also recently issued reports about the company. Mizuho decreased their price objective on Depomed from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, May 25th. Royal Bank Of Canada decreased their price objective on Depomed from $19.00 to $13.00 and set a “sector perform” rating for the company in a report on Wednesday, May 10th. Cantor Fitzgerald reiterated a “hold” rating and issued a $19.00 target price on shares of Depomed in a report on Wednesday, March 29th. Vetr downgraded shares of Depomed from a “hold” rating to a “sell” rating and set a $15.44 target price for the company. in a report on Wednesday, March 15th. Finally, ValuEngine upgraded shares of Depomed from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Depomed has a consensus rating of “Hold” and a consensus price target of $14.59.
Depomed (NASDAQ DEPO) traded up 0.96% during mid-day trading on Tuesday, hitting $6.32. 1,585,296 shares of the stock were exchanged. The stock’s market cap is $398.08 million. The stock has a 50 day moving average of $10.06 and a 200-day moving average of $12.61. Depomed has a 52-week low of $5.95 and a 52-week high of $27.02.
Depomed (NASDAQ:DEPO) last released its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.09 by $0.52. The firm had revenue of $100 million during the quarter, compared to the consensus estimate of $100.40 million. Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The business’s revenue was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Equities analysts predict that Depomed will post $0.51 EPS for the current fiscal year.
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In other Depomed news, insider Arthur J. Higgins purchased 15,000 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $9.92 per share, for a total transaction of $148,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.59% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of DEPO. Russell Investments Group Ltd. acquired a new stake in shares of Depomed during the fourth quarter worth $1,975,000. Comerica Bank raised its stake in shares of Depomed by 70.7% in the fourth quarter. Comerica Bank now owns 105,536 shares of the specialty pharmaceutical company’s stock worth $1,992,000 after buying an additional 43,720 shares during the last quarter. State Street Corp raised its stake in shares of Depomed by 11.7% in the fourth quarter. State Street Corp now owns 2,244,155 shares of the specialty pharmaceutical company’s stock worth $40,438,000 after buying an additional 235,277 shares during the last quarter. FMR LLC raised its stake in shares of Depomed by 19.3% in the fourth quarter. FMR LLC now owns 710,757 shares of the specialty pharmaceutical company’s stock worth $12,808,000 after buying an additional 115,101 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Depomed during the fourth quarter worth $13,075,000. Institutional investors and hedge funds own 91.42% of the company’s stock.
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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