Depomed, Inc. (DEPO) Lifted to Equal Weight at Morgan Stanley
Morgan Stanley upgraded shares of Depomed, Inc. (NASDAQ:DEPO) from an underweight rating to an equal weight rating in a report issued on Thursday, MarketBeat reports.
Several other equities analysts also recently issued reports on the stock. Royal Bank Of Canada set a $13.00 price objective on shares of Depomed and gave the company a hold rating in a report on Sunday, July 16th. BidaskClub downgraded shares of Depomed from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Janney Montgomery Scott downgraded shares of Depomed from a buy rating to a neutral rating and decreased their price target for the stock from $18.00 to $8.00 in a research note on Tuesday, August 8th. ValuEngine raised shares of Depomed from a strong sell rating to a sell rating in a research note on Monday, September 11th. Finally, Piper Jaffray Companies restated a hold rating and set a $9.00 price objective on shares of Depomed in a research report on Sunday, September 10th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Depomed presently has a consensus rating of Hold and an average target price of $10.64.
Shares of Depomed (NASDAQ:DEPO) traded up $0.50 during trading hours on Thursday, reaching $6.42. 3,121,900 shares of the company traded hands, compared to its average volume of 1,643,626. 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 has a one year low of $4.31 and a one year high of $21.56.
Depomed (NASDAQ:DEPO) last posted its earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 EPS for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $99.11 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. Depomed’s revenue for the quarter was down 13.7% compared to the same quarter last year. equities analysts forecast that Depomed will post -1.34 EPS for the current year.
Hedge funds have recently bought and sold shares of the business. OxFORD Asset Management LLP increased its holdings in shares of Depomed by 22.8% during the third quarter. OxFORD Asset Management LLP now owns 470,451 shares of the specialty pharmaceutical company’s stock valued at $2,764,000 after purchasing an additional 87,332 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in Depomed by 5.7% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 295,800 shares of the specialty pharmaceutical company’s stock worth $1,713,000 after purchasing an additional 16,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Depomed by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,321,109 shares of the specialty pharmaceutical company’s stock worth $13,439,000 after purchasing an additional 14,791 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Depomed by 6.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 374,128 shares of the specialty pharmaceutical company’s stock worth $2,167,000 after acquiring an additional 22,577 shares during the period. Finally, Nordea Investment Management AB boosted its position in Depomed by 95.1% during the 3rd quarter. Nordea Investment Management AB now owns 356,681 shares of the specialty pharmaceutical company’s stock worth $2,065,000 after acquiring an additional 173,826 shares during the period. Institutional investors own 87.44% of the company’s stock.
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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