Depomed Inc. (NASDAQ:DEPO) shot up 3% during trading on Monday . The stock traded as high as $19.88 and last traded at $19.38, with a volume of 1,719,659 shares trading hands. The stock had previously closed at $18.81.

Several brokerages recently commented on DEPO. Cantor Fitzgerald restated a “buy” rating on shares of Depomed in a research report on Sunday, May 8th. Mizuho reiterated a “buy” rating on shares of Depomed in a report on Sunday, June 26th. Piper Jaffray Cos. cut their price target on Depomed from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, May 6th. Janney Montgomery Scott reiterated a “buy” rating and issued a $28.00 price target on shares of Depomed in a report on Tuesday, April 12th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Depomed in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Depomed presently has a consensus rating of “Buy” and an average price target of $22.89.

The company has a 50 day moving average of $19.60 and a 200 day moving average of $17.07. The company’s market capitalization 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 analysts’ consensus estimates of $0.17 by $0.05. During the same quarter in the previous year, the company posted ($0.13) EPS. The company earned $104.60 million during the quarter, compared to the consensus estimate of $106.88 million. Depomed’s revenue for the quarter was up 230.0% compared to the same quarter last year. On average, analysts predict that Depomed Inc. will post $1.20 EPS for the current year.

In related 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 transaction, the vice president now owns 109,297 shares in the company, valued at approximately $2,185,940. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO August J. Moretti sold 5,000 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $18.00, for a total value of $90,000.00. Following the transaction, the chief financial officer now owns 22,879 shares in the company, valued at approximately $411,822. The disclosure for this sale can be found here.

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