Gamco Investors INC. ET AL Has $220,000 Stake in Depomed, Inc. (DEPO)
Gamco Investors INC. ET AL cut its holdings in shares of Depomed, Inc. (NASDAQ:DEPO) by 30.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,000 shares of the specialty pharmaceutical company’s stock after selling 17,000 shares during the period. Gamco Investors INC. ET AL owned approximately 0.06% of Depomed worth $220,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sivik Global Healthcare LLC acquired a new position in shares of Depomed during the second quarter worth approximately $1,933,000. Systematic Financial Management LP acquired a new stake in Depomed in the second quarter worth approximately $1,801,000. State of Wisconsin Investment Board lifted its position in Depomed by 155.0% in the second quarter. State of Wisconsin Investment Board now owns 515,200 shares of the specialty pharmaceutical company’s stock worth $5,533,000 after purchasing an additional 313,200 shares during the period. Ballentine Partners LLC acquired a new stake in Depomed in the second quarter worth approximately $442,000. Finally, Marshall Wace North America L.P. acquired a new stake in Depomed in the second quarter worth approximately $2,834,000. Institutional investors and hedge funds own 87.44% of the company’s stock.
DEPO has been the subject of a number of research analyst reports. Morgan Stanley upgraded Depomed from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 9th. ValuEngine upgraded Depomed from a “strong sell” rating to a “sell” rating in a research report on Monday, September 11th. Piper Jaffray Companies set a $9.00 target price on Depomed and gave the stock a “hold” rating in a research report on Sunday, October 15th. Royal Bank Of Canada cut their target price on Depomed from $8.00 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 8th. Finally, BidaskClub downgraded Depomed from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $10.64.
Shares of Depomed, Inc. (NASDAQ:DEPO) opened at $6.21 on Friday. Depomed, Inc. has a 52-week low of $4.31 and a 52-week 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 announced its quarterly earnings data on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Depomed had a negative return on equity of 51.07% and a negative net margin of 27.73%. The company had revenue of $95.40 million during the quarter, compared to the consensus estimate of $99.11 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s quarterly revenue was down 13.7% compared to the same quarter last year. analysts predict that Depomed, Inc. will post -1.34 earnings per share for the current fiscal year.
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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