Depomed Inc. (DEPO) Stock Price Down 1.9%
Depomed Inc. (NASDAQ:DEPO) traded down 1.9% during trading on Thursday . The stock traded as low as $20.17 and last traded at $20.29, with a volume of 391,507 shares trading hands. The stock had previously closed at $20.69.
DEPO has been the topic of several analyst reports. Cantor Fitzgerald restated a “buy” rating on shares of Depomed in a report on Thursday, August 11th. Piper Jaffray Cos. restated a “neutral” rating and set a $19.00 price objective (up from $18.00) on shares of Depomed in a report on Thursday, August 4th. JMP Securities dropped their price objective on Depomed from $28.00 to $22.00 and set a “market outperform” rating on the stock in a report on Thursday, August 4th. Janney Montgomery Scott restated a “buy” rating and set a $28.00 price objective on shares of Depomed in a report on Thursday, August 4th. Finally, Mizuho restated a “buy” rating and set a $23.00 price objective on shares of Depomed in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $22.65.
The company’s market capitalization is $1.21 billion. The stock’s 50-day moving average price is $19.92 and its 200-day moving average price is $17.94.
Depomed (NASDAQ:DEPO) last posted 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. During the same period in the prior year, the firm posted $0.27 EPS. The business had revenue of $116.70 million for the quarter, compared to analyst estimates of $118.20 million. Depomed’s revenue for the quarter was up 23.5% on a year-over-year basis. Equities research analysts forecast that Depomed Inc. will post $1.21 earnings per share for the current fiscal year.
In related news, VP Thadd M. Vargas sold 26,290 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was 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 owns 84,336 shares of the company’s stock, valued at approximately $1,764,309.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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 stake in Depomed Inc. (NASDAQ:DEPO) by 106.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund 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 about 0.09% of Depomed worth $1,004,000 at the end of the most recent quarter.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.