Depomed Inc. (NASDAQ:DEPO) shares were up 2.9% during mid-day trading on Tuesday . The company traded as high as $20.13 and last traded at $20.07, with a volume of 472,975 shares traded. The stock had previously closed at $19.51.

A number of research analysts have issued reports on DEPO shares. Royal Bank Of Canada reiterated 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 reiterated a “buy” rating and set a $28.00 price target on shares of Depomed in a research report on Wednesday, June 15th. Leerink Swann reiterated a “positive” rating on shares of Depomed in a research report on Monday, July 18th. Cantor Fitzgerald reiterated a “buy” rating on shares of Depomed in a research report on Wednesday, June 22nd. Finally, Piper Jaffray Cos. lowered Depomed from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $18.00 in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Depomed presently has a consensus rating of “Buy” and an average price target of $22.65.

The stock has a 50 day moving average price of $19.97 and a 200 day moving average price of $18.02. The company’s market cap is $1.23 billion.

Depomed (NASDAQ:DEPO) last issued its earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The company earned $116.70 million during the quarter, compared to analyst estimates of $118.20 million. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 23.5% on a year-over-year basis. On average, equities research analysts anticipate that Depomed Inc. will post $1.21 EPS for the current fiscal year.

In other news, VP Thadd M. Vargas sold 26,290 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $20.92, for a total value of $549,986.80. Following the completion of the transaction, the vice president now directly owns 84,336 shares of the company’s stock, valued at approximately $1,764,309.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO August J. Moretti sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $21.40, for a total value of $107,000.00. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Depomed stock. US Bancorp DE raised its position in shares of Depomed Inc. (NASDAQ:DEPO) by 106.9% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 55,393 shares of the specialty pharmaceutical company’s stock after buying an additional 28,622 shares during the period. US Bancorp DE owned 0.09% of Depomed worth $1,004,000 at the end of the most recent quarter.

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