Shares of Depomed Inc (NASDAQ:DEPO) have been given an average recommendation of “Hold” by the thirteen analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $12.38.

DEPO has been the topic of several recent research reports. ValuEngine cut Depomed from a “sell” rating to a “strong sell” rating in a report on Thursday, September 28th. Mizuho reiterated a “neutral” rating and issued a $6.00 price target (down previously from $11.00) on shares of Depomed in a report on Friday, October 13th. Piper Jaffray Companies set a $9.00 price target on Depomed and gave the company a “hold” rating in a report on Sunday, October 15th. Royal Bank of Canada set a $10.00 price target on Depomed and gave the company a “hold” rating in a report on Friday, October 20th. Finally, Morgan Stanley upgraded Depomed from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 9th.

Depomed (NASDAQ:DEPO) remained flat at $$8.15 during trading on Monday. 605,500 shares of the stock were exchanged, compared to its average volume of 927,682. The firm has a market cap of $487.09, a P/E ratio of -4.45 and a beta of 1.29. Depomed has a 52-week low of $4.31 and a 52-week high of $18.77. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.90.

Depomed (NASDAQ:DEPO) last posted its quarterly earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $95.40 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 earnings per share. sell-side analysts anticipate that Depomed will post -1.34 EPS for the current year.

In related news, insider Arthur J. Higgins bought 75,000 shares of Depomed stock in a transaction on Thursday, December 14th. The shares were purchased at an average price of $8.16 per share, for a total transaction of $612,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.59% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of Depomed by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,321,109 shares of the specialty pharmaceutical company’s stock worth $13,439,000 after purchasing an additional 14,791 shares during the period. State of Wisconsin Investment Board raised its position in shares of Depomed by 85.4% during the third quarter. State of Wisconsin Investment Board now owns 955,200 shares of the specialty pharmaceutical company’s stock worth $5,531,000 after purchasing an additional 440,000 shares during the period. HighTower Advisors LLC raised its position in shares of Depomed by 3.2% during the second quarter. HighTower Advisors LLC now owns 920,921 shares of the specialty pharmaceutical company’s stock worth $9,883,000 after purchasing an additional 28,893 shares during the period. Principal Financial Group Inc. raised its position in shares of Depomed by 2.8% during the second quarter. Principal Financial Group Inc. now owns 487,057 shares of the specialty pharmaceutical company’s stock worth $5,231,000 after purchasing an additional 13,330 shares during the period. Finally, OxFORD Asset Management LLP raised its position in shares of Depomed by 22.8% during the third quarter. OxFORD Asset Management LLP now owns 470,451 shares of the specialty pharmaceutical company’s stock worth $2,764,000 after purchasing an additional 87,332 shares during the period. Hedge funds and other institutional investors own 90.76% of the company’s stock.

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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).

Analyst Recommendations for Depomed (NASDAQ:DEPO)

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