Depomed, Inc. (DEPO) Downgraded by ValuEngine
ValuEngine cut shares of Depomed, Inc. (NASDAQ:DEPO) from a sell rating to a strong sell rating in a research report released on Thursday morning.
A number of other research analysts also recently commented on the stock. Royal Bank Of Canada reaffirmed a hold rating and issued a $13.00 price target on shares of Depomed in a report on Tuesday, June 13th. Piper Jaffray Companies reaffirmed a hold rating and issued a $9.00 price target on shares of Depomed in a report on Sunday, September 10th. BidaskClub downgraded shares of Depomed from a hold rating to a sell rating in a report on Tuesday, July 11th. Morgan Stanley downgraded shares of Depomed from an equal weight rating to an underweight rating and lowered their price target for the company from $12.00 to $5.00 in a report on Tuesday, August 8th. Finally, Janney Montgomery Scott downgraded shares of Depomed from a buy rating to a neutral rating and lowered their price target for the company from $18.00 to $8.00 in a report on Tuesday, August 8th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $14.59.
Depomed (NASDAQ:DEPO) traded up 2.66% on Thursday, hitting $5.79. The stock had a trading volume of 1,260,388 shares. Depomed has a 52-week low of $5.67 and a 52-week high of $27.02. The company’s 50 day moving average price is $6.69 and its 200 day moving average price is $10.50. The firm’s market cap is $364.70 million.
Depomed (NASDAQ:DEPO) last announced its quarterly earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.52). Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The business had revenue of $100.00 million during the quarter, compared to the consensus estimate of $100.40 million. During the same period in the previous year, the business posted $0.27 EPS. The firm’s revenue was down 14.3% on a year-over-year basis. Analysts expect that Depomed will post $0.48 EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Airain ltd purchased a new stake in Depomed in the 1st quarter worth about $128,000. State of Alaska Department of Revenue raised its position in Depomed by 79.5% in the 2nd 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 period. Piedmont Investment Advisors LLC purchased a new stake in Depomed in the 2nd quarter worth about $145,000. Captrust Financial Advisors purchased a new stake in Depomed in the 2nd quarter worth about $147,000. Finally, Two Sigma Securities LLC purchased a new stake in Depomed in the 1st quarter worth about $180,000. 91.25% of the stock is currently owned by institutional investors.
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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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