Depomed Inc. (DEPO) Trading 3.2% Higher
Shares of Depomed Inc. (NASDAQ:DEPO) traded up 3.2% during mid-day trading on Wednesday . The company traded as high as $22.17 and last traded at $21.91, with a volume of 405,811 shares. The stock had previously closed at $21.23.
A number of analysts recently issued reports on the stock. Mizuho reissued a “buy” rating on shares of Depomed in a report on Sunday, June 26th. Cantor Fitzgerald reissued a “buy” rating on shares of Depomed in a report on Sunday, May 8th. Janney Montgomery Scott reissued a “buy” rating and set a $28.00 price target on shares of Depomed in a report on Thursday, August 4th. Royal Bank Of Canada reissued a “hold” rating on shares of Depomed in a report on Monday, July 11th. Finally, Leerink Swann reissued a “positive” rating on shares of Depomed in a report on Monday, July 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $22.65.
The firm’s market capitalization is $1.30 billion. The company’s 50 day moving average price is $19.89 and its 200 day moving average price is $17.87.
Depomed (NASDAQ:DEPO) last announced its earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The business earned $116.70 million during the quarter, compared to analyst estimates of $118.20 million. The business’s revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 earnings per share. On average, equities analysts anticipate that Depomed Inc. will post $1.21 EPS for the current fiscal year.
In related news, VP Thadd M. Vargas sold 26,290 shares of Depomed stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $20.92, for a total value of $549,986.80. Following the transaction, the vice president now directly owns 84,336 shares in the company, valued at approximately $1,764,309.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO August J. Moretti sold 5,000 shares of Depomed stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $21.40, for a total transaction of $107,000.00. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Depomed stock. Rail Splitter Capital Management LLC acquired a new position in shares of Depomed Inc. (NASDAQ:DEPO) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 219,302 shares of the specialty pharmaceutical company’s stock, valued at approximately $3,976,000. Rail Splitter Capital Management LLC owned 0.36% of Depomed at the end of the most recent quarter.
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