Candriam Luxembourg S.C.A. Increases Stake in Depomed, Inc. (NASDAQ:DEPO)
Candriam Luxembourg S.C.A. boosted its position in Depomed, Inc. (NASDAQ:DEPO) by 541.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,250 shares of the specialty pharmaceutical company’s stock after buying an additional 115,000 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Depomed were worth $1,463,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in DEPO. Norges Bank purchased a new stake in Depomed during the fourth quarter worth about $13,075,000. Litespeed Management L.L.C. increased its stake in 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 worth $23,013,000 after buying an additional 650,746 shares during the last quarter. Vanguard Group Inc. increased its stake in Depomed by 14.6% in the first quarter. Vanguard Group Inc. now owns 4,791,200 shares of the specialty pharmaceutical company’s stock worth $60,129,000 after buying an additional 609,722 shares during the last quarter. ING Groep NV purchased a new stake in Depomed during the second quarter worth about $4,672,000. Finally, Capital Fund Management S.A. increased its stake in Depomed by 2,231.0% in the first quarter. Capital Fund Management S.A. now owns 358,789 shares of the specialty pharmaceutical company’s stock worth $4,503,000 after buying an additional 343,397 shares during the last quarter. 91.42% of the stock is currently owned by institutional investors and hedge funds.
Depomed, Inc. (DEPO) opened at 6.32 on Friday. The company’s market cap is $398.08 million. Depomed, Inc. has a 52-week low of $5.95 and a 52-week high of $27.02. The stock’s 50 day moving average price is $10.06 and its 200 day moving average price is $12.61.
Depomed (NASDAQ:DEPO) last posted its earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by $0.52. The business had revenue of $100 million for the quarter, compared to analyst estimates of $100.40 million. Depomed had a negative return on equity of 45.03% and a negative net margin of 26.02%. Depomed’s revenue was down 14.3% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. Analysts expect that Depomed, Inc. will post $0.51 earnings per share for the current year.
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DEPO has been the topic of a number of research reports. Mizuho reduced their price objective on Depomed from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, May 25th. TheStreet downgraded Depomed from a “c-” rating to a “d+” rating in a research note on Thursday, April 27th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Depomed in a research note on Tuesday, June 13th. Piper Jaffray Companies raised Depomed from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $11.00 to $10.00 in a research note on Wednesday, May 10th. Finally, Cantor Fitzgerald set a $14.00 price objective on Depomed and gave the stock a “hold” rating in a research note on Monday, May 15th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $14.59.
In other Depomed news, insider Arthur J. Higgins bought 15,000 shares of the business’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.59% of the stock is owned by company insiders.
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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