Depomed, Inc. (NASDAQ:DEPO) had its price objective hoisted by UBS AG from $6.00 to $7.00 in a research report released on Friday morning, www.benzinga.com reports. UBS AG currently has a neutral rating on the specialty pharmaceutical company’s stock.
Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada lowered their target price on shares of Depomed from $13.00 to $10.00 and set a sector perform rating on the stock in a research note on Tuesday, August 8th. Piper Jaffray Companies reissued a neutral rating and set a $9.00 target price (down previously from $10.00) on shares of Depomed in a research note on Wednesday, August 9th. Janney Montgomery Scott cut shares of Depomed from a buy rating to a neutral rating and lowered their target price for the company from $18.00 to $8.00 in a research note on Tuesday, August 8th. Mizuho reissued a neutral rating and set a $6.00 target price (down previously from $11.00) on shares of Depomed in a research note on Friday, October 13th. Finally, Morgan Stanley raised shares of Depomed from an underweight rating to an equal weight rating in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $10.64.
Depomed (NASDAQ DEPO) remained flat at $$6.42 during mid-day trading on Friday. The stock had a trading volume of 2,112,600 shares, compared to its average volume of 1,645,768. The company has a debt-to-equity ratio of 2.90, a current ratio of 0.83 and a quick ratio of 0.79. Depomed has a 52-week low of $4.31 and a 52-week high of $21.56.
Depomed (NASDAQ:DEPO) last released its earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The firm had revenue of $95.40 million for the quarter, compared to analysts’ expectations of $99.11 million. Depomed had a negative net margin of 27.73% and a negative return on equity of 51.07%. Depomed’s quarterly revenue was down 13.7% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. analysts expect that Depomed will post -1.34 earnings per share for the current year.
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Several large investors have recently bought and sold shares of DEPO. Prudential Financial Inc. boosted its position in shares of Depomed by 1.0% during the 1st quarter. Prudential Financial Inc. now owns 105,386 shares of the specialty pharmaceutical company’s stock valued at $1,323,000 after purchasing an additional 1,080 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Depomed by 46.9% in the first quarter. OppenheimerFunds Inc. now owns 22,203 shares of the specialty pharmaceutical company’s stock worth $279,000 after buying an additional 7,087 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Depomed by 4.5% in the first quarter. Principal Financial Group Inc. now owns 473,727 shares of the specialty pharmaceutical company’s stock worth $5,945,000 after buying an additional 20,451 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Depomed by 1.8% in the first quarter. Teachers Advisors LLC now owns 157,112 shares of the specialty pharmaceutical company’s stock worth $1,972,000 after buying an additional 2,778 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Depomed by 0.7% in the first quarter. Legal & General Group Plc now owns 110,642 shares of the specialty pharmaceutical company’s stock worth $1,390,000 after buying an additional 761 shares during the period. Institutional investors own 87.44% 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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