Depomed Inc. (NASDAQ:DEPO)’s share price dropped 7.3% during mid-day trading on Thursday . The company traded as low as $18.97 and last traded at $19.06, with a volume of 1,012,159 shares traded. The stock had previously closed at $20.55.

DEPO has been the subject of a number of recent research reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $22.00 price target on shares of Depomed in a research report on Monday, May 2nd. Janney Montgomery Scott reissued a “buy” rating and set a $28.00 price target on shares of Depomed in a research report on Wednesday, June 15th. Cantor Fitzgerald reissued a “buy” rating and set a $26.00 price target on shares of Depomed in a research report on Tuesday, March 29th. Leerink Swann initiated coverage on shares of Depomed in a research report on Thursday, March 10th. They set an “outperform” rating and a $21.00 price target for the company. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $23.00 price target on shares of Depomed in a research report on Thursday, March 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $22.89.

The stock’s 50 day moving average price is $19.84 and its 200-day moving average price is $17.04. The company’s market cap is $1.15 billion.

Depomed (NASDAQ:DEPO) last announced its quarterly earnings results on Thursday, May 5th. The specialty pharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.05. The company earned $104.60 million during the quarter, compared to analysts’ expectations of $106.88 million. The firm’s quarterly revenue was up 230.0% compared to the same quarter last year. During the same period last year, the business earned ($0.13) earnings per share. Equities analysts expect that Depomed Inc. will post $1.20 earnings per share for the current fiscal year.

In other Depomed news, CFO August J. Moretti sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $18.00, for a total value of $90,000.00. Following the completion of the sale, the chief financial officer now owns 22,879 shares in the company, valued at $411,822. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thadd M. Vargas sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $20.00, for a total value of $300,000.00. Following the completion of the sale, the vice president now owns 109,297 shares of the company’s stock, valued at approximately $2,185,940. The disclosure for this sale can be found here.

A number of large investors have recently modified their holdings of DEPO. US Bancorp DE boosted its stake in shares of Depomed by 106.9% in the fourth quarter. US Bancorp DE now owns 55,393 shares of the specialty pharmaceutical company’s stock worth $1,004,000 after buying an additional 28,622 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Depomed by 11.4% in the fourth quarter. ProShare Advisors LLC now owns 58,867 shares of the specialty pharmaceutical company’s stock worth $1,067,000 after buying an additional 6,016 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Depomed by 11.2% in the fourth quarter. Rhumbline Advisers now owns 79,129 shares of the specialty pharmaceutical company’s stock worth $1,435,000 after buying an additional 7,995 shares in the last quarter. Comerica Bank boosted its stake in shares of Depomed by 4.6% in the fourth quarter. Comerica Bank now owns 111,771 shares of the specialty pharmaceutical company’s stock worth $1,726,000 after buying an additional 4,957 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Depomed by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 111,108 shares of the specialty pharmaceutical company’s stock worth $2,014,000 after buying an additional 1,793 shares in the last quarter.

Depomed, Inc is a specialty pharmaceutical company focused on pain and other central nervous system (CNS) conditions. The Company’s products include Gralise (gabapentin), CAMBIA (diclofenac potassium for oral solution), Zipsor (diclofenac potassium) and Lazanda (fentanyl). Gralise is a once-daily product for the management of postherpetic neuralgia (PHN).

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