Depomed Inc. (DEPO) Given a $27.00 Price Target at Roth Capital
Depomed Inc. (NASDAQ:DEPO) has been given a $27.00 price target by equities research analysts at Roth Capital in a research note issued on Monday. The firm currently has a “buy” rating on the specialty pharmaceutical company’s stock. Roth Capital’s price objective would indicate a potential upside of 33.00% from the stock’s previous close.
Several other analysts also recently weighed in on the company. Leerink Swann set a $22.00 target price on Depomed and gave the company a “buy” rating in a research note on Tuesday, November 8th. Mizuho upgraded Depomed from a “neutral” rating to a “buy” rating and decreased their target price for the company from $27.00 to $24.00 in a research note on Wednesday, November 9th. They noted that the move was a valuation call. Cantor Fitzgerald cut Depomed from a “buy” rating to a “hold” rating and cut their price target for the company from $25.00 to $23.00 in a report on Tuesday, November 8th. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $31.00 price target on shares of Depomed in a report on Monday, October 17th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $22.00 price target on shares of Depomed in a report on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $22.99.
Depomed (NASDAQ:DEPO) traded up 0.663% on Monday, reaching $19.901. The company had a trading volume of 471,328 shares. The stock’s market cap is $1.23 billion. Depomed has a one year low of $12.25 and a one year high of $27.02. The company has a 50-day moving average of $22.27 and a 200 day moving average of $21.13.
Depomed (NASDAQ:DEPO) last announced its earnings results on Monday, November 7th. The specialty pharmaceutical company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.07. Depomed had a negative net margin of 16.93% and a negative return on equity of 7.49%. The business had revenue of $111 million for the quarter, compared to the consensus estimate of $127.22 million. During the same quarter in the previous year, the company earned $0.33 EPS. Depomed’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Depomed will post $1.04 EPS for the current year.
In related news, VP Thadd M. Vargas sold 11,250 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $25.00, for a total transaction of $281,250.00. Following the sale, the vice president now directly owns 73,086 shares in the company, valued at approximately $1,827,150. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO August J. Moretti sold 5,000 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $20.84, for a total value of $104,200.00. Following the sale, the chief financial officer now owns 26,680 shares in the company, valued at $556,011.20. The disclosure for this sale can be found here. Corporate insiders own 5.12% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Depomed by 197.5% in the second quarter. BlackRock Inc. now owns 5,137 shares of the specialty pharmaceutical company’s stock worth $101,000 after buying an additional 3,410 shares during the period. Acadian Asset Management LLC acquired a new stake in Depomed during the third quarter worth approximately $120,000. PineBridge Investments L.P. raised its stake in Depomed by 4.1% in the second quarter. PineBridge Investments L.P. now owns 7,748 shares of the specialty pharmaceutical company’s stock worth $152,000 after buying an additional 306 shares during the period. DIAM Co. Ltd. acquired a new stake in Depomed during the second quarter worth approximately $157,000. Finally, Teacher Retirement System of Texas raised its stake in Depomed by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 8,482 shares of the specialty pharmaceutical company’s stock worth $166,000 after buying an additional 1,024 shares during the period.
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