Depomed Inc. (NASDAQ:DEPO) VP Thadd M. Vargas sold 11,250 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $25.00, for a total value of $281,250.00. Following the completion of the sale, the vice president now directly owns 73,086 shares of the company’s stock, valued at $1,827,150. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Depomed Inc. (NASDAQ:DEPO) opened at 24.20 on Tuesday. Depomed Inc. has a one year low of $12.25 and a one year high of $25.50. The stock has a 50 day moving average price of $21.69 and a 200-day moving average price of $18.86. The stock’s market capitalization is $1.49 billion.
Depomed (NASDAQ:DEPO) last posted its quarterly earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. Depomed had a negative net margin of 16.89% and a positive return on equity of 3.71%. The company earned $116.70 million during the quarter, compared to the consensus estimate of $118.20 million. During the same period last year, the firm earned $0.27 EPS. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. Analysts anticipate that Depomed Inc. will post $1.21 earnings per share for the current year.
Several large investors have recently bought and sold shares of DEPO. BlackRock Inc. increased its stake in Depomed by 197.5% in the second quarter. BlackRock Inc. now owns 5,137 shares of the specialty pharmaceutical company’s stock worth $101,000 after buying an additional 3,410 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in Depomed during the first quarter worth about $114,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Depomed by 30.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,355 shares of the specialty pharmaceutical company’s stock worth $130,000 after buying an additional 2,181 shares during the last quarter. PineBridge Investments L.P. increased its stake in Depomed by 4.1% in the second quarter. PineBridge Investments L.P. now owns 7,748 shares of the specialty pharmaceutical company’s stock worth $152,000 after buying an additional 306 shares during the last quarter. Finally, DIAM Co. Ltd. bought a new stake in Depomed during the second quarter worth about $157,000.
Several research firms have recently issued reports on DEPO. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $22.00 price objective on shares of Depomed in a research note on Friday. Mizuho raised their price objective on Depomed from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, September 16th. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Depomed in a research note on Wednesday, September 14th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Depomed in a research note on Thursday, August 11th. Finally, Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $19.00 price objective (up from $18.00) on shares of Depomed in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Depomed presently has an average rating of “Buy” and a consensus target price of $22.91.
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