Depomed (NASDAQ:DEPO) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.

DEPO has been the topic of several other reports. ValuEngine raised shares of Depomed from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 5th. Royal Bank of Canada set a $10.00 target price on shares of Depomed and gave the stock a “hold” rating in a research report on Friday, October 20th. UBS Group increased their target price on shares of Depomed from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $9.00 price target on shares of Depomed in a research report on Thursday, December 7th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $6.00 price target (down from $11.00) on shares of Depomed in a research report on Friday, October 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $11.64.

Depomed (NASDAQ DEPO) opened at $6.84 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.90. The company has a market cap of $419.04, a price-to-earnings ratio of -3.74 and a beta of 1.07. Depomed has a 1 year low of $4.31 and a 1 year high of $18.09.

Depomed (NASDAQ:DEPO) last posted its earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The firm had revenue of $95.40 million for the quarter, compared to the consensus estimate of $99.11 million. Depomed had a negative net margin of 27.73% and a negative return on equity of 51.07%. The business’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. equities analysts anticipate that Depomed will post -1.34 EPS for the current fiscal year.

In other Depomed news, insider Arthur J. Higgins purchased 75,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were bought at an average cost of $8.16 per share, with a total value of $612,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.59% of the company’s stock.

Large investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC acquired a new stake in shares of Depomed in the second quarter valued at about $145,000. Teacher Retirement System of Texas acquired a new stake in shares of Depomed in the fourth quarter valued at about $155,000. Aperio Group LLC grew its position in shares of Depomed by 71.9% in the fourth quarter. Aperio Group LLC now owns 27,087 shares of the specialty pharmaceutical company’s stock valued at $218,000 after purchasing an additional 11,334 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Depomed by 10.4% in the second quarter. Voya Investment Management LLC now owns 29,495 shares of the specialty pharmaceutical company’s stock valued at $317,000 after purchasing an additional 2,790 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in shares of Depomed by 71.0% in the third quarter. BNP Paribas Arbitrage SA now owns 32,251 shares of the specialty pharmaceutical company’s stock valued at $187,000 after purchasing an additional 13,388 shares during the last quarter. 89.83% of the stock is currently owned by institutional investors.

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About Depomed

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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