Depomed (DEPO) Given a $10.00 Price Target at Roth Capital

Depomed (NASDAQ:DEPO) has been assigned a $10.00 target price by Roth Capital in a report released on Friday, March 2nd. The firm presently has a “buy” rating on the specialty pharmaceutical company’s stock. Roth Capital’s price target indicates a potential upside of 56.99% from the company’s current price.

Several other equities research analysts have also commented on the stock. Piper Jaffray reaffirmed a “hold” rating and set a $5.00 price target on shares of Depomed in a research report on Friday, November 10th. Morgan Stanley raised shares of Depomed from an “underweight” rating to an “equal weight” rating in a report on Thursday, November 9th. Royal Bank of Canada set a $9.00 target price on shares of Depomed and gave the stock a “hold” rating in a report on Thursday, December 7th. ValuEngine lowered shares of Depomed from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Finally, BidaskClub lowered shares of Depomed from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $9.56.

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Depomed (DEPO) traded down $0.16 during midday trading on Friday, hitting $6.37. 680,261 shares of the stock traded hands, compared to its average volume of 1,171,611. Depomed has a 12-month low of $4.31 and a 12-month high of $14.84. The stock has a market cap of $401.42, a price-to-earnings ratio of -3.91 and a beta of 1.10. The company has a quick ratio of 0.70, a current ratio of 0.74 and a debt-to-equity ratio of 3.21.

Depomed (NASDAQ:DEPO) last released its quarterly earnings results on Tuesday, February 27th. The specialty pharmaceutical company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.05. Depomed had a negative net margin of 26.92% and a negative return on equity of 45.19%. The firm had revenue of $94.41 million during the quarter, compared to analyst estimates of $88.75 million. analysts forecast that Depomed will post -1.03 EPS for the current fiscal year.

In other Depomed news, SVP Matthew M. Gosling sold 45,519 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $6.58, for a total value of $299,515.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.59% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. FMR LLC bought a new position in Depomed in the 2nd quarter worth approximately $1,470,000. Parametric Portfolio Associates LLC boosted its position in shares of Depomed by 33.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 96,477 shares of the specialty pharmaceutical company’s stock valued at $1,036,000 after acquiring an additional 24,407 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Depomed during the 4th quarter valued at approximately $460,000. OxFORD Asset Management LLP boosted its position in shares of Depomed by 22.8% during the 3rd quarter. OxFORD Asset Management LLP now owns 470,451 shares of the specialty pharmaceutical company’s stock valued at $2,764,000 after acquiring an additional 87,332 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its position in shares of Depomed by 15.9% during the 4th quarter. State of Wisconsin Investment Board now owns 1,106,900 shares of the specialty pharmaceutical company’s stock valued at $8,911,000 after acquiring an additional 151,700 shares during the last quarter. Institutional investors and hedge funds own 91.22% of the company’s stock.

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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).

Analyst Recommendations for Depomed (NASDAQ:DEPO)

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