Depomed, Inc. (DEPO) Stock Rating Reaffirmed by Piper Jaffray Companies
Depomed, Inc. (NASDAQ:DEPO)‘s stock had its “hold” rating reiterated by equities researchers at Piper Jaffray Companies in a research note issued to investors on Sunday. They currently have a $9.00 price objective on the specialty pharmaceutical company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 34.73% from the company’s previous close.
A number of other analysts have also commented on DEPO. Cantor Fitzgerald set a $14.00 price target on Depomed and gave the company a “hold” rating in a report on Monday, May 15th. Mizuho cut their price target on Depomed from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, May 25th. ValuEngine upgraded Depomed from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Royal Bank Of Canada reiterated a “hold” rating and set a $13.00 target price on shares of Depomed in a report on Tuesday, June 13th. Finally, BidaskClub lowered Depomed from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $14.59.
Shares of Depomed (NASDAQ DEPO) opened at 6.68 on Friday. The stock’s 50 day moving average price is $7.44 and its 200-day moving average price is $10.96. Depomed has a 1-year low of $5.81 and a 1-year high of $27.02. The stock’s market capitalization is $420.76 million.
Depomed (NASDAQ:DEPO) last issued its quarterly earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by $0.52. The firm had revenue of $100 million during the quarter, compared to the consensus estimate of $100.40 million. Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The business’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 earnings per share. Equities research analysts anticipate that Depomed will post $0.48 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its position in shares of Depomed by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the specialty pharmaceutical company’s stock valued at $318,000 after purchasing an additional 500 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Depomed in the first quarter valued at approximately $494,000. Great West Life Assurance Co. Can grew its position in shares of Depomed by 6.8% in the first quarter. Great West Life Assurance Co. Can now owns 84,148 shares of the specialty pharmaceutical company’s stock valued at $1,055,000 after purchasing an additional 5,324 shares during the last quarter. Comerica Bank grew its position in shares of Depomed by 2.5% in the first quarter. Comerica Bank now owns 108,195 shares of the specialty pharmaceutical company’s stock valued at $1,315,000 after purchasing an additional 2,659 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its position in shares of Depomed by 213.3% in the first quarter. Gamco Investors INC. ET AL now owns 47,000 shares of the specialty pharmaceutical company’s stock valued at $590,000 after purchasing an additional 32,000 shares during the last quarter. Hedge funds and other institutional investors own 91.25% 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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