Nordea Investment Management AB grew its stake in shares of Depomed, Inc. (NASDAQ:DEPO) by 95.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 356,681 shares of the specialty pharmaceutical company’s stock after buying an additional 173,826 shares during the quarter. Nordea Investment Management AB owned 0.57% of Depomed worth $2,065,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. State of Alaska Department of Revenue grew its stake in shares of Depomed by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 12,298 shares of the specialty pharmaceutical company’s stock worth $132,000 after purchasing an additional 5,448 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Depomed in the second quarter worth about $145,000. Captrust Financial Advisors bought a new stake in shares of Depomed in the second quarter worth about $147,000. Municipal Employees Retirement System of Michigan grew its stake in shares of Depomed by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock worth $157,000 after purchasing an additional 590 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake 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 worth $187,000 after purchasing an additional 13,388 shares during the last quarter. 90.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Depomed, Inc. (DEPO) opened at $8.33 on Friday. 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, Inc. has a 1-year low of $4.31 and a 1-year high of $21.38.
Several analysts recently issued reports on the company. Piper Jaffray Companies reissued a “hold” rating and issued a $9.00 target price on shares of Depomed in a research note on Thursday. BidaskClub raised Depomed from a “sell” rating to a “hold” rating in a research note on Wednesday. Mizuho raised Depomed from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Tuesday. ValuEngine raised Depomed from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Finally, UBS raised their target price on Depomed from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $11.34.
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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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