Metropolitan Life Insurance Co. NY maintained its stake in shares of Depomed, Inc. (NASDAQ:DEPO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,842 shares of the specialty pharmaceutical company’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Depomed were worth $563,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DEPO. State of Wisconsin Investment Board raised its stake in Depomed by 151.9% in the first quarter. State of Wisconsin Investment Board now owns 202,000 shares of the specialty pharmaceutical company’s stock worth $2,535,000 after buying an additional 121,800 shares during the last quarter. State of Tennessee Treasury Department raised its stake in Depomed by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 56,811 shares of the specialty pharmaceutical company’s stock worth $713,000 after buying an additional 8,574 shares during the last quarter. Gabelli Funds LLC raised its stake in Depomed by 547.1% in the first quarter. Gabelli Funds LLC now owns 220,000 shares of the specialty pharmaceutical company’s stock worth $2,761,000 after buying an additional 186,000 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Depomed by 213.3% in the first quarter. Gamco Investors INC. ET AL now owns 47,000 shares of the specialty pharmaceutical company’s stock worth $590,000 after buying an additional 32,000 shares during the last quarter. Finally, Comerica Bank raised its stake in Depomed by 2.5% in the first quarter. Comerica Bank now owns 108,195 shares of the specialty pharmaceutical company’s stock worth $1,315,000 after buying an additional 2,659 shares during the last quarter. 91.42% of the stock is owned by institutional investors.

Depomed, Inc. (NASDAQ DEPO) traded up 3.65% on Thursday, reaching $6.24. 956,555 shares of the company’s stock were exchanged. The company’s market capitalization is $393.05 million. The company has a 50 day moving average price of $10.32 and a 200-day moving average price of $12.75. Depomed, Inc. has a 1-year low of $5.95 and a 1-year high of $27.02.

Depomed (NASDAQ:DEPO) last posted its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by $0.52. The company had revenue of $100 million for the quarter, compared to analysts’ expectations of $100.40 million. Depomed had a negative return on equity of 45.03% and a negative net margin of 26.02%. The company’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 EPS. On average, equities research analysts anticipate that Depomed, Inc. will post $0.51 earnings per share for the current year.

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DEPO has been the subject of a number of research reports. TheStreet lowered shares of Depomed from a “c-” rating to a “d+” rating in a report on Thursday, April 27th. Piper Jaffray Companies raised shares of Depomed from an “underweight” rating to a “neutral” rating and dropped their target price for the stock from $11.00 to $10.00 in a report on Wednesday, May 10th. Royal Bank Of Canada dropped their target price on shares of Depomed from $19.00 to $13.00 and set a “sector perform” rating for the company in a report on Wednesday, May 10th. Cantor Fitzgerald set a $14.00 target price on shares of Depomed and gave the stock a “hold” rating in a report on Monday, May 15th. Finally, Mizuho dropped their target price on shares of Depomed from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, May 25th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Depomed has an average rating of “Hold” and a consensus target price of $14.59.

In other Depomed news, insider Arthur J. Higgins purchased 15,000 shares of the stock in a transaction on Monday, June 12th. The stock was bought at an average price of $9.92 per share, for a total transaction of $148,800.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.59% of the stock is owned by insiders.

About Depomed

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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Institutional Ownership by Quarter for Depomed (NASDAQ:DEPO)

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