Depomed, Inc. (DEPO) Cut to Neutral at Janney Montgomery Scott
Depomed, Inc. (NASDAQ:DEPO) was downgraded by analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
A number of other analysts have also weighed in on the stock. BidaskClub lowered shares of Depomed from a “sell” rating to a “strong sell” rating in a report on Saturday. Royal Bank Of Canada set a $13.00 price target on shares of Depomed and gave the stock a “hold” rating in a report on Sunday, July 16th. ValuEngine raised shares of Depomed from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Mizuho decreased their price target on shares of Depomed from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, May 25th. Finally, Cantor Fitzgerald set a $14.00 price target on shares of Depomed and gave the stock a “hold” rating in a report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.74.
Depomed (DEPO) opened at 9.23 on Tuesday. Depomed has a 52 week low of $9.00 and a 52 week high of $27.02. The company’s market capitalization is $575.41 million. The company has a 50-day moving average of $10.55 and a 200-day moving average of $13.10.
Depomed (NASDAQ:DEPO) last posted its earnings results on Monday, August 7th. The specialty pharmaceutical company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.01. The firm had revenue of $100 million for the quarter, compared to the consensus estimate of $100.40 million. Depomed had a negative return on equity of 25.33% and a negative net margin of 21.41%. The business’s revenue was down 14.3% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. On average, equities research analysts anticipate that Depomed will post $0.62 EPS for the current year.
In other Depomed news, insider Arthur J. Higgins acquired 15,000 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was bought at an average price of $9.92 per share, with a total value of $148,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.59% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Depomed during the fourth quarter valued at $13,075,000. State of Wisconsin Investment Board boosted its stake in shares of Depomed by 151.9% in the first quarter. State of Wisconsin Investment Board now owns 202,000 shares of the specialty pharmaceutical company’s stock valued at $2,535,000 after buying an additional 121,800 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Depomed by 76.6% in the first quarter. Asset Management One Co. Ltd. now owns 51,687 shares of the specialty pharmaceutical company’s stock valued at $658,000 after buying an additional 22,422 shares during the last quarter. Litespeed Management L.L.C. boosted its stake in shares of Depomed by 55.0% in the first quarter. Litespeed Management L.L.C. now owns 1,833,698 shares of the specialty pharmaceutical company’s stock valued at $23,013,000 after buying an additional 650,746 shares during the last quarter. Finally, Airain ltd purchased a new stake in shares of Depomed during the first quarter valued at $128,000. 91.42% of the stock is owned by institutional investors and hedge funds.
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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