Depomed Inc. (NASDAQ:DEPO) was down 7.3% during 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.

A number of equities research analysts have commented on DEPO shares. Royal Bank Of Canada reissued a “sector perform” rating and set a $22.00 price objective on shares of Depomed in a report on Monday, May 2nd. Janney Montgomery Scott reissued a “buy” rating and set a $28.00 price objective on shares of Depomed in a report on Wednesday, June 15th. Cantor Fitzgerald reissued a “buy” rating and set a $26.00 price objective on shares of Depomed in a report on Tuesday, March 29th. Piper Jaffray Cos. reissued an “overweight” rating and set a $23.00 price objective on shares of Depomed in a report on Thursday, March 24th. Finally, Vetr lowered shares of Depomed from a “strong-buy” rating to a “sell” rating and set a $16.81 target price on the stock. in a research note on Monday, May 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $22.89.

The firm has a 50-day moving average of $19.82 and a 200-day moving average of $17.06. The stock’s market cap is $1.15 billion.

Depomed (NASDAQ:DEPO) last posted its quarterly earnings results on Thursday, May 5th. The specialty pharmaceutical company reported $0.12 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 analyst estimates of $106.88 million. During the same period in the previous year, the business posted ($0.13) earnings per share. The firm’s quarterly revenue was up 230.0% compared to the same quarter last year. On average, equities research analysts forecast that Depomed Inc. will post $1.21 earnings per share for the current fiscal year.

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

A number of hedge funds and institutional investors have modified their holdings of DEPO. LSV Asset Management acquired a new position in shares of Depomed during the fourth quarter valued at approximately $5,377,000. Rail Splitter Capital Management LLC acquired a new position in shares of Depomed during the fourth quarter valued at approximately $3,976,000. New York State Common Retirement Fund increased its position in shares of Depomed by 73.4% in the fourth quarter. New York State Common Retirement Fund now owns 479,305 shares of the specialty pharmaceutical company’s stock valued at $8,690,000 after buying an additional 202,833 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in shares of Depomed by 1,605.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 162,038 shares of the specialty pharmaceutical company’s stock valued at $2,937,000 after buying an additional 152,538 shares during the last quarter. Finally, Systematic Financial Management LP increased its position in shares of Depomed by 96.8% in the fourth quarter. Systematic Financial Management LP now owns 153,450 shares of the specialty pharmaceutical company’s stock valued at $2,782,000 after buying an additional 75,460 shares during 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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