Depomed (DEPO) Upgraded to “Hold” by BidaskClub

Depomed (NASDAQ:DEPO) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other brokerages have also recently commented on DEPO. Morgan Stanley cut Depomed from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $12.00 to $5.00 in a research note on Tuesday, August 8th. Royal Bank Of Canada decreased their target price on Depomed from $13.00 to $10.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 8th. Janney Montgomery Scott cut Depomed from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $8.00 in a research report on Tuesday, August 8th. ValuEngine upgraded Depomed from a “strong sell” rating to a “sell” rating in a report on Tuesday. Finally, Mizuho upgraded Depomed from a “neutral” rating to a “buy” rating and set a $9.00 price target for the company in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Depomed currently has an average rating of “Hold” and an average price target of $10.94.

Depomed (DEPO) opened at $7.86 on Wednesday. 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 has a 12 month low of $4.31 and a 12 month high of $21.38.

Depomed (NASDAQ:DEPO) last released its earnings results 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 company had revenue of $95.40 million for the quarter, compared to analysts’ expectations of $99.11 million. Depomed had a negative return on equity of 51.07% and a negative net margin of 27.73%. The business’s revenue for the quarter was down 13.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 EPS. analysts predict that Depomed will post -1.34 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP boosted its holdings in Depomed by 133.5% in the third quarter. GSA Capital Partners LLP now owns 158,300 shares of the specialty pharmaceutical company’s stock valued at $917,000 after acquiring an additional 90,500 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Depomed during the third quarter worth about $245,000. Engineers Gate Manager LP acquired a new stake in shares of Depomed during the third quarter worth about $812,000. OxFORD Asset Management LLP raised its position in shares of Depomed by 22.8% during the third quarter. OxFORD Asset Management LLP now owns 470,451 shares of the specialty pharmaceutical company’s stock worth $2,764,000 after purchasing an additional 87,332 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Depomed by 5.7% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 295,800 shares of the specialty pharmaceutical company’s stock worth $1,713,000 after purchasing an additional 16,000 shares during the period. Institutional investors and hedge funds own 90.99% 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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