Arthur J. Higgins Buys 75,000 Shares of Depomed, Inc. (DEPO) Stock
Depomed, Inc. (NASDAQ:DEPO) insider Arthur J. Higgins acquired 75,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was acquired at an average cost of $8.16 per share, for a total transaction of $612,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Depomed, Inc. (NASDAQ:DEPO) opened at $8.38 on Friday. Depomed, Inc. has a 12 month low of $4.31 and a 12 month high of $21.38. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.79 and a current ratio of 0.83.
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, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Depomed had a negative net margin of 27.73% and a negative return on equity of 51.07%. The company had revenue of $95.40 million for the quarter, compared to analysts’ expectations of $99.11 million. During the same period last year, the company earned $0.28 EPS. The firm’s revenue for the quarter was down 13.7% compared to the same quarter last year. analysts forecast that Depomed, Inc. will post -1.34 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in DEPO. Piedmont Investment Advisors LLC acquired a new stake in shares of Depomed in the second quarter worth approximately $145,000. Captrust Financial Advisors acquired a new stake in shares of Depomed in the second quarter worth approximately $147,000. Municipal Employees Retirement System of Michigan boosted its position 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 acquiring an additional 590 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position 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 acquiring an additional 13,388 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in shares of Depomed in the third quarter worth approximately $188,000. 90.99% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on DEPO. Royal Bank of Canada set a $9.00 price objective on shares of Depomed and gave the company a “hold” rating in a research note on Thursday, December 7th. Piper Jaffray Companies reissued a “hold” rating and issued a $9.00 price objective on shares of Depomed in a research note on Thursday, December 7th. ValuEngine raised shares of Depomed from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 5th. BidaskClub raised shares of Depomed from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, Mizuho raised shares of Depomed from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a research note on Tuesday, December 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Depomed has a consensus rating of “Hold” and an average target price of $11.64.
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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