Depomed (DEPO) Receives $9.29 Average PT from Brokerages

Shares of Depomed (NASDAQ:DEPO) have received an average rating of “Hold” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.29.

DEPO has been the topic of a number of recent analyst reports. Roth Capital set a $10.00 price target on shares of Depomed and gave the company a “buy” rating in a report on Friday, March 2nd. Piper Jaffray reiterated a “hold” rating and set a $8.00 price target on shares of Depomed in a report on Thursday, March 1st. BidaskClub cut shares of Depomed from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 7th. Mizuho reiterated a “buy” rating and set a $9.00 price target on shares of Depomed in a report on Friday, March 23rd. Finally, ValuEngine cut shares of Depomed from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd.

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In related news, SVP Matthew M. Gosling sold 45,519 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $6.58, for a total value of $299,515.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.59% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Fox Run Management L.L.C. purchased a new stake in Depomed in the fourth quarter worth approximately $460,000. OxFORD Asset Management LLP boosted its holdings in Depomed by 22.8% in the third quarter. OxFORD Asset Management LLP now owns 470,451 shares of the specialty pharmaceutical company’s stock worth $2,764,000 after purchasing an additional 87,332 shares during the last quarter. MANA Advisors LLC purchased a new stake in Depomed in the fourth quarter worth approximately $148,000. State of Wisconsin Investment Board boosted its holdings in Depomed by 15.9% in the fourth quarter. State of Wisconsin Investment Board now owns 1,106,900 shares of the specialty pharmaceutical company’s stock worth $8,911,000 after purchasing an additional 151,700 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Depomed by 6.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 374,128 shares of the specialty pharmaceutical company’s stock worth $2,167,000 after purchasing an additional 22,577 shares during the last quarter. Institutional investors own 91.22% of the company’s stock.

Shares of NASDAQ:DEPO traded down $0.26 during trading on Friday, reaching $6.58. 424,100 shares of the stock traded hands, compared to its average volume of 891,282. Depomed has a 52-week low of $4.31 and a 52-week high of $13.90. The company has a quick ratio of 0.70, a current ratio of 0.74 and a debt-to-equity ratio of 3.21. The stock has a market cap of $434.45, a price-to-earnings ratio of -5.22 and a beta of 1.19.

Depomed (NASDAQ:DEPO) last posted its quarterly earnings results on Tuesday, February 27th. The specialty pharmaceutical company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.05. Depomed had a negative net margin of 26.92% and a negative return on equity of 45.19%. The firm had revenue of $94.41 million for the quarter, compared to analysts’ expectations of $88.75 million. sell-side analysts anticipate that Depomed will post -1.03 earnings per share for the current year.

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Depomed Company Profile

Depomed, Inc, a specialty pharmaceutical company, engages in the development, sale, and licensing of products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the management of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; and Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults.

Analyst Recommendations for Depomed (NASDAQ:DEPO)

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