Depomed, Inc. (NASDAQ:DEPO)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $5.56 and last traded at $5.56, with a volume of 1,297,975 shares. The stock had previously closed at $5.72.
A number of equities analysts recently commented on DEPO shares. Royal Bank Of Canada reissued a “hold” rating and issued a $13.00 price objective on shares of Depomed in a research note on Tuesday, June 13th. Piper Jaffray Companies reissued a “hold” rating and issued a $9.00 price objective on shares of Depomed in a research note on Sunday, September 10th. Janney Montgomery Scott downgraded shares of 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. BidaskClub downgraded shares of Depomed from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, ValuEngine raised shares of Depomed from a “strong sell” rating to a “sell” rating in a research note on Monday, September 11th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $13.44.
The firm’s market cap is $348.95 million. The stock has a 50-day moving average price of $6.07 and a 200 day moving average price of $9.52.
Depomed (NASDAQ:DEPO) last announced its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.52). Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The firm had revenue of $100.00 million during the quarter, compared to analyst estimates of $100.40 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. Depomed’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, analysts anticipate that Depomed, Inc. will post $0.48 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in DEPO. State of Alaska Department of Revenue raised its holdings in shares of Depomed by 79.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 12,298 shares of the specialty pharmaceutical company’s stock valued at $132,000 after purchasing an additional 5,448 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Depomed in the 2nd quarter valued at $145,000. Captrust Financial Advisors acquired a new stake in shares of Depomed in the 2nd quarter valued at $147,000. Municipal Employees Retirement System of Michigan raised its holdings in shares of Depomed by 4.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock valued at $157,000 after purchasing an additional 590 shares in the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of Depomed in the 1st quarter valued at $180,000. Institutional investors and hedge funds own 91.25% 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).
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