Depomed, Inc. (NASDAQ:DEPO) had its price objective reduced by Royal Bank Of Canada from $8.00 to $6.00 in a report issued on Wednesday. They currently have a sector perform rating on the specialty pharmaceutical company’s stock.
Several other analysts have also recently weighed in on the company. Piper Jaffray Companies reissued a hold rating and set a $9.00 price objective on shares of Depomed in a report on Sunday, September 10th. Mizuho reissued a neutral rating and set a $6.00 price objective (down from $11.00) on shares of Depomed in a report on Friday, October 13th. ValuEngine raised Depomed from a strong sell rating to a sell rating in a report on Monday, September 11th. BidaskClub cut Depomed from a hold rating to a sell rating in a report on Tuesday, July 11th. Finally, Morgan Stanley cut Depomed from an equal weight rating to an underweight rating and dropped their price objective for the stock from $12.00 to $5.00 in a report on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $10.64.
Depomed (NASDAQ DEPO) traded up $0.50 during trading on Wednesday, hitting $6.42. The company had a trading volume of 3,121,900 shares, compared to its average volume of 1,577,635. The company has a debt-to-equity ratio of 3.19, a current ratio of 0.99 and a quick ratio of 0.75. Depomed has a fifty-two week low of $4.31 and a fifty-two week high of $21.56.
Depomed (NASDAQ:DEPO) last released its quarterly earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. Depomed had a negative return on equity of 51.07% and a negative net margin of 27.73%. The business had revenue of $95.40 million during the quarter, compared to analysts’ expectations of $99.11 million. During the same period in the previous year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was down 13.7% compared to the same quarter last year. sell-side analysts predict that Depomed will post -1.34 EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue increased its stake 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 acquiring an additional 5,448 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Depomed in the 2nd quarter valued at about $145,000. Captrust Financial Advisors bought a new stake in shares of Depomed in the 2nd quarter valued at about $147,000. Municipal Employees Retirement System of Michigan increased its stake 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 acquiring an additional 590 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Depomed in the 1st quarter valued at about $248,000. 90.83% of the stock is owned by institutional investors.
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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