Depomed Inc. (DEPO) Trading Up 3.2%
Depomed Inc. (NASDAQ:DEPO) shares were up 3.2% during trading on Wednesday . The stock 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.
Several research analysts have commented on DEPO shares. Mizuho upgraded Depomed from a “neutral” rating to a “buy” rating and raised their target price for the stock from $18.00 to $19.00 in a research note on Monday, May 9th. Piper Jaffray Cos. lowered 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. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Depomed in a report on Wednesday, June 22nd. Vetr cut Depomed from a “strong-buy” rating to a “sell” rating and set a $16.81 price target on the stock. in a report on Monday, May 9th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating and issued a $28.00 price target on shares of Depomed in a report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Depomed has an average rating of “Buy” and an average target price of $22.65.
The company’s market cap is $1.21 billion. The stock has a 50-day moving average of $19.89 and a 200-day moving average of $17.90.
Depomed (NASDAQ:DEPO) last released its quarterly earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company had revenue of $116.70 million for the quarter, compared to the consensus estimate of $118.20 million. During the same period in the prior year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. Equities research analysts predict that Depomed Inc. will post $1.21 earnings per share for the current year.
In other Depomed news, CFO August J. Moretti sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $21.40, for a total transaction of $107,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thadd M. Vargas sold 26,290 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $20.92, for a total value of $549,986.80. Following the sale, the vice president now directly owns 84,336 shares of the company’s stock, valued at approximately $1,764,309.12. 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 Depomed Inc. (NASDAQ:DEPO) by 106.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 approximately 0.09% of Depomed worth $1,004,000 as of its most recent SEC filing.
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