Depomed, Inc. (DEPO) Given Hold Rating at Piper Jaffray Companies
Piper Jaffray Companies restated their hold rating on shares of Depomed, Inc. (NASDAQ:DEPO) in a research report sent to investors on Friday. They currently have a $5.00 price target on the specialty pharmaceutical company’s stock.
DEPO has been the subject of a number of other research reports. Royal Bank Of Canada set a $8.00 price objective on Depomed and gave the company a hold rating in a report on Friday, October 27th. Morgan Stanley cut Depomed from an equal weight rating to an underweight rating and decreased their target price for the company from $12.00 to $5.00 in a research note on Tuesday, August 8th. BidaskClub cut Depomed from a sell rating to a strong sell rating in a research note on Saturday, August 5th. ValuEngine cut Depomed from a sell rating to a strong sell rating in a research note on Thursday, September 28th. Finally, Mizuho reaffirmed a neutral rating and set a $6.00 price objective (down from $11.00) on shares of Depomed in a research report on Friday, October 13th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $10.64.
Depomed (NASDAQ:DEPO) traded up $0.50 during mid-day trading on Friday, hitting $6.42. The stock had a trading volume of 3,121,900 shares, compared to its average volume of 1,577,635. Depomed has a 12 month low of $4.31 and a 12 month high of $21.56. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 3.19.
Depomed (NASDAQ:DEPO) last released its quarterly earnings data on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $95.40 million during the quarter, compared to the consensus estimate of $99.11 million. Depomed had a negative return on equity of 51.07% and a negative net margin of 27.73%. The firm’s revenue was down 13.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. equities research analysts predict that Depomed will post -1.34 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in DEPO. State of Alaska Department of Revenue increased its stake in shares of Depomed by 79.5% during the second quarter. State of Alaska Department of Revenue now owns 12,298 shares of the specialty pharmaceutical company’s stock worth $132,000 after purchasing an additional 5,448 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of Depomed during the second quarter worth approximately $145,000. Captrust Financial Advisors bought a new position in shares of Depomed during the second quarter worth approximately $147,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Depomed by 4.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock worth $157,000 after purchasing an additional 590 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Depomed by 71.0% during the third quarter. BNP Paribas Arbitrage SA now owns 32,251 shares of the specialty pharmaceutical company’s stock worth $187,000 after purchasing an additional 13,388 shares during the period. Institutional investors own 90.83% 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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