Janney Montgomery Scott reiterated their buy rating on shares of Depomed Inc. (NASDAQ:DEPO) in a research note issued to investors on Wednesday. Janney Montgomery Scott currently has a $28.00 price objective on the specialty pharmaceutical company’s stock.

Other equities analysts also recently issued reports about the company. Mizuho reissued a buy rating on shares of Depomed in a research note on Sunday, June 26th. Cantor Fitzgerald reissued a buy rating on shares of Depomed in a research note on Wednesday, June 22nd. Royal Bank Of Canada reissued a hold rating on shares of Depomed in a research note on Monday, July 11th. JMP Securities cut their target price on Depomed from $28.00 to $22.00 and set a market outperform rating for the company in a research note on Thursday, August 4th. Finally, Piper Jaffray Cos. reissued a neutral rating and set a $19.00 target price (up from $18.00) on shares of Depomed in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. Depomed currently has an average rating of Buy and an average price target of $22.98.

Depomed (NASDAQ:DEPO) opened at 24.19 on Wednesday. Depomed has a 52-week low of $12.25 and a 52-week high of $27.26. The company has a 50-day moving average of $21.03 and a 200-day moving average of $18.52. The company’s market cap is $1.48 billion.

Depomed (NASDAQ:DEPO) last posted its quarterly earnings data on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The firm earned $116.70 million during the quarter, compared to the consensus estimate of $118.20 million. Depomed had a positive return on equity of 3.71% and a negative net margin of 16.89%. The firm’s revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 EPS. On average, equities research analysts expect that Depomed will post $1.21 earnings per share for the current fiscal year.

In other news, CFO August J. Moretti sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $21.40, for a total transaction of $107,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thadd M. Vargas sold 26,290 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $20.92, for a total value of $549,986.80. Following the sale, the vice president now owns 84,336 shares in the company, valued at approximately $1,764,309.12. The disclosure for this sale can be found here. Company insiders own 5.12% of the company’s stock.

Large investors have recently bought and sold shares of the company. Mason Street Advisors LLC acquired a new stake in Depomed during the second quarter valued at about $234,000. Schwab Charles Investment Management Inc. boosted its stake in Depomed by 41.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 647,478 shares of the specialty pharmaceutical company’s stock valued at $12,704,000 after buying an additional 188,581 shares during the period. American Century Companies Inc. boosted its stake in Depomed by 0.6% in the second quarter. American Century Companies Inc. now owns 70,780 shares of the specialty pharmaceutical company’s stock valued at $1,389,000 after buying an additional 450 shares during the period. Arizona State Retirement System boosted its stake in Depomed by 1.6% in the second quarter. Arizona State Retirement System now owns 31,721 shares of the specialty pharmaceutical company’s stock valued at $622,000 after buying an additional 500 shares during the period. Finally, Clearline Capital LP acquired a new stake in Depomed during the second quarter valued at about $6,505,000.

Depomed Company Profile

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