Depomed Inc. (NASDAQ:DEPO) shares were down 2.8% on Wednesday . The stock traded as low as $20.58 and last traded at $20.65, with a volume of 277,089 shares trading hands. The stock had previously closed at $21.25.

Several research analysts have weighed in on DEPO shares. Cantor Fitzgerald reiterated a “buy” rating and issued a $26.00 price objective on shares of Depomed in a research note on Tuesday, April 26th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $22.00 price objective on shares of Depomed in a research note on Monday, May 2nd. Piper Jaffray Cos. dropped their price objective on shares of Depomed from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, May 6th. Mizuho upgraded shares of Depomed from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.00 to $19.00 in a research note on Sunday, May 8th. Finally, Vetr lowered shares of Depomed from a “strong-buy” rating to a “sell” rating and set a $16.81 price objective on the stock. in a research note on Monday, May 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Depomed presently has an average rating of “Buy” and an average price target of $22.65.

The stock’s 50-day moving average price is $19.76 and its 200-day moving average price is $17.72. The stock’s market cap is $1.27 billion.

Depomed (NASDAQ:DEPO) last released its quarterly earnings data on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $116.70 million for the quarter, compared to the consensus estimate of $118.20 million. The firm’s revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS. Equities research analysts anticipate 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 Depomed 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 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 is accessible through this link. Also, VP Thadd M. Vargas sold 26,290 shares of Depomed stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $20.92, for a total transaction of $549,986.80. Following the completion of the transaction, the vice president now directly owns 84,336 shares in the company, valued at approximately $1,764,309.12. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors recently made changes to their positions in the stock. US Bancorp DE raised its position 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 during the last quarter. Rhumbline Advisers raised its position 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 during the last quarter. Systematic Financial Management LP raised 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 worth $2,782,000 after buying an additional 75,460 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised 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 worth $2,937,000 after buying an additional 152,538 shares during the last quarter. Finally, Foresters Investment Management Company Inc. raised its position in shares of Depomed by 4.8% in the fourth quarter. Foresters Investment Management Company Inc. now owns 198,000 shares of the specialty pharmaceutical company’s stock worth $3,590,000 after buying an additional 9,000 shares during the last quarter.

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