Depomed’s (DEPO) “Hold” Rating Reaffirmed at Piper Jaffray Companies
Piper Jaffray Companies reissued their hold rating on shares of Depomed, Inc. (NASDAQ:DEPO) in a research note issued to investors on Sunday. They currently have a $9.00 price objective on the specialty pharmaceutical company’s stock.
Several other brokerages have also recently weighed in on DEPO. Cantor Fitzgerald set a $14.00 price target on shares of Depomed and gave the company a hold rating in a research report on Monday, May 15th. BidaskClub cut shares of Depomed from a sell rating to a strong sell rating in a research report on Saturday, August 5th. Mizuho dropped their price target on shares of Depomed from $13.00 to $11.00 and set a neutral rating on the stock in a research report on Thursday, May 25th. Royal Bank Of Canada reaffirmed a hold rating and issued a $13.00 price target on shares of Depomed in a research report on Tuesday, June 13th. Finally, Janney Montgomery Scott cut shares of Depomed from a buy rating to a neutral rating and dropped their price target for the company from $18.00 to $8.00 in a research report on Tuesday, August 8th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Depomed presently has a consensus rating of Hold and a consensus target price of $14.59.
Shares of Depomed (DEPO) opened at 6.12 on Friday. Depomed has a 52-week low of $5.81 and a 52-week high of $27.02. The company has a 50 day moving average price of $7.53 and a 200-day moving average price of $11.08. The firm’s market cap is $385.49 million.
Depomed (NASDAQ:DEPO) last announced its quarterly earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ 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 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. Depomed’s revenue was down 14.3% compared to the same quarter last year. On average, analysts expect that Depomed will post $0.48 earnings per share for the current fiscal year.
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Several hedge funds have recently modified their holdings of DEPO. Louisiana State Employees Retirement System increased its stake in shares of Depomed by 2.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the specialty pharmaceutical company’s stock worth $318,000 after purchasing an additional 500 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Depomed during the 1st quarter worth approximately $494,000. Great West Life Assurance Co. Can increased its stake in shares of Depomed by 6.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 84,148 shares of the specialty pharmaceutical company’s stock worth $1,055,000 after purchasing an additional 5,324 shares during the last quarter. Comerica Bank increased its stake in shares of Depomed by 2.5% during the 1st quarter. Comerica Bank now owns 108,195 shares of the specialty pharmaceutical company’s stock worth $1,315,000 after purchasing an additional 2,659 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in shares of Depomed by 213.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 47,000 shares of the specialty pharmaceutical company’s stock worth $590,000 after purchasing an additional 32,000 shares during the last quarter. Institutional investors own 91.25% of the company’s stock.
Depomed Company Profile
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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