Depomed, Inc. (DEPO) Given a $13.00 Price Target by Royal Bank Of Canada Analysts
Depomed, Inc. (NASDAQ:DEPO) received a $13.00 price objective from equities research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Sunday. The firm presently has a “hold” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 20.37% from the stock’s previous close.
DEPO has been the subject of several other reports. ValuEngine upgraded shares of Depomed from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. JMP Securities reiterated an “outperform” rating and set a $16.00 price target (down from $30.00) on shares of Depomed in a research report on Thursday, March 30th. BidaskClub cut shares of Depomed from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Cantor Fitzgerald reiterated a “hold” rating and set a $19.00 price target on shares of Depomed in a research report on Wednesday, March 29th. Finally, Janney Montgomery Scott reiterated a “buy” rating and set a $26.00 price target on shares of Depomed in a research report on Tuesday, April 11th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $17.74.
Depomed (DEPO) remained flat at $10.80 during mid-day trading on Friday. The stock had a trading volume of 1,039,831 shares. Depomed has a one year low of $9.38 and a one year high of $27.02. The stock’s market cap is $673.28 million. The company’s 50-day moving average price is $10.48 and its 200 day moving average price is $14.43.
Depomed (NASDAQ:DEPO) last released its quarterly earnings data on Tuesday, May 9th. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.18. Depomed had a negative return on equity of 25.33% and a negative net margin of 21.41%. The firm had revenue of $95 million for the quarter, compared to analyst estimates of $99.48 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. Depomed’s revenue for the quarter was down 9.2% on a year-over-year basis. Analysts expect that Depomed will post $0.61 earnings per share for the current fiscal year.
In other news, insider Arthur J. Higgins acquired 15,000 shares of the company’s stock in a transaction on Monday, June 12th. The shares were bought at an average cost of $9.92 per share, with a total value of $148,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.12% of the company’s stock.
Several large investors have recently modified their holdings of DEPO. State of Alaska Department of Revenue raised its stake in shares of Depomed by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 12,298 shares of the specialty pharmaceutical company’s stock valued at $132,000 after buying an additional 5,448 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Depomed during the second quarter valued at approximately $249,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Depomed by 7.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 227,400 shares of the specialty pharmaceutical company’s stock valued at $2,854,000 after buying an additional 15,300 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Depomed by 10.5% in the first quarter. HighTower Advisors LLC now owns 892,028 shares of the specialty pharmaceutical company’s stock valued at $11,200,000 after buying an additional 84,815 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Depomed during the first quarter valued at approximately $248,000. Institutional investors own 92.36% of the company’s stock.
Depomed Company Profile
Depomed, Inc is a specialty pharmaceutical company. The Company focuses on pain and other central nervous system (CNS) conditions. Its products include NUCYNTA ER (tapentadol extended release tablets), NUCYNTA IR (NUCYNTA) (tapentadol), Gralise (gabapentin), CAMBIA (diclofenac potassium for oral solution), Zipsor (diclofenac potassium) and Lazanda (fentanyl).
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