Depomed, Inc. (DEPO) Upgraded by ValuEngine to “Sell”

ValuEngine upgraded shares of Depomed, Inc. (NASDAQ:DEPO) from a strong sell rating to a sell rating in a research report report published on Monday.

Several other research firms have also recently issued reports on DEPO. Cantor Fitzgerald set a $14.00 price objective on shares of Depomed and gave the company a hold rating in a research report on Monday, May 15th. Mizuho reduced their price objective 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 reiterated a hold rating and set a $13.00 price objective on shares of Depomed in a research report on Tuesday, June 13th. BidaskClub cut shares of Depomed from a hold rating to a sell rating in a research report on Tuesday, July 11th. Finally, Janney Montgomery Scott cut shares of Depomed from a buy rating to a neutral rating and reduced their price objective for the company from $18.00 to $8.00 in a research report on Tuesday, August 8th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $14.59.

Depomed (DEPO) traded down 3.037% during mid-day trading on Monday, reaching $6.225. 372,202 shares of the company were exchanged. The stock has a 50 day moving average of $7.06 and a 200-day moving average of $10.79. Depomed has a one year low of $5.81 and a one year high of $27.02. The stock’s market capitalization is $392.10 million.

Depomed (NASDAQ:DEPO) last issued its quarterly earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the 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 firm had revenue of $100.00 million for the quarter, compared to analysts’ expectations of $100.40 million. During the same period in the prior year, the firm earned $0.27 EPS. Depomed’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, equities analysts expect that Depomed will post $0.48 earnings per share for the current fiscal year.

WARNING: This story was first reported by BBNS and is the sole property of of BBNS. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://baseballnewssource.com/markets/depomed-inc-depo-upgraded-by-valuengine-to-sell/1635257.html.

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wisconsin Investment Board increased its position 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 purchasing an additional 121,800 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Depomed by 76.6% in the first quarter. Asset Management One Co. Ltd. now owns 51,687 shares of the specialty pharmaceutical company’s stock worth $658,000 after purchasing an additional 22,422 shares during the last quarter. Litespeed Management L.L.C. increased its position in Depomed by 55.0% in the first quarter. Litespeed Management L.L.C. now owns 1,833,698 shares of the specialty pharmaceutical company’s stock worth $23,013,000 after purchasing an additional 650,746 shares during the last quarter. Ballentine Partners LLC bought a new stake in Depomed in the second quarter worth $442,000. Finally, Mason Street Advisors LLC increased its position in Depomed by 7.9% in the first quarter. Mason Street Advisors LLC now owns 14,521 shares of the specialty pharmaceutical company’s stock worth $182,000 after purchasing an additional 1,064 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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Depomed (NASDAQ:DEPO)

Receive News & Ratings for Depomed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Depomed Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22
Tigers Player Might Play All Nine Positions During Same Game
Tigers Player Might Play All Nine Positions During Same Game
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster


Leave a Reply

 
© 2006-2017 BBNS.