Depomed, Inc. (DEPO) Given Consensus Recommendation of “Hold” by Analysts

Shares of Depomed, Inc. (NASDAQ:DEPO) have earned an average recommendation of “Hold” from the fourteen research firms that are currently covering the firm, MarketBeat.com reports. 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. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $14.59.

Several equities research analysts have recently weighed in on the company. Morgan Stanley lowered Depomed from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $12.00 to $5.00 in a research note on Tuesday, August 8th. ValuEngine raised Depomed from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Royal Bank Of Canada set a $13.00 price objective on Depomed and gave the stock a “hold” rating in a research note on Sunday, July 16th. Piper Jaffray Companies reissued a “hold” rating and set a $9.00 price objective on shares of Depomed in a research note on Sunday. Finally, Janney Montgomery Scott lowered Depomed from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $8.00 in a research note on Tuesday, August 8th.

TRADEMARK VIOLATION NOTICE: “Depomed, Inc. (DEPO) Given Consensus Recommendation of “Hold” by Analysts” was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this story on another site, it was illegally stolen and reposted in violation of international copyright legislation. The legal version of this story can be viewed at https://sportsperspectives.com/2017/09/12/depomed-inc-depo-given-consensus-recommendation-of-hold-by-analysts.html.

Several institutional investors have recently modified their holdings of DEPO. Louisiana State Employees Retirement System boosted 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 worth $318,000 after buying an additional 500 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Depomed in the first quarter worth $494,000. Great West Life Assurance Co. Can boosted 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 worth $1,055,000 after buying an additional 5,324 shares during the period. Comerica Bank boosted 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 worth $1,315,000 after buying an additional 2,659 shares during the period. Finally, Gamco Investors INC. ET AL boosted 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 worth $590,000 after buying an additional 32,000 shares during the period. 91.25% of the stock is owned by institutional investors and hedge funds.

Shares of Depomed (NASDAQ:DEPO) traded down 1.20% during mid-day trading on Tuesday, hitting $6.60. The stock had a trading volume of 1,026,497 shares. The firm’s market cap is $415.72 million. The company has a 50 day moving average price of $7.42 and a 200 day moving average price of $10.93. Depomed has a 12-month low of $5.81 and a 12-month high of $27.02.

Depomed (NASDAQ:DEPO) last released its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.52). The company had revenue of $100.00 million for the quarter, compared to the consensus estimate of $100.40 million. Depomed had a negative return on equity of 45.03% and a negative net margin of 26.02%. The business’s revenue was down 14.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. Equities analysts forecast that Depomed will post $0.48 earnings per share for the current fiscal year.

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)

Receive News & Ratings for Depomed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Depomed Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply