Depomed Inc (DEPO) Position Lifted by GSA Capital Partners LLP
GSA Capital Partners LLP boosted its holdings in shares of Depomed Inc (NASDAQ:DEPO) by 133.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,300 shares of the specialty pharmaceutical company’s stock after buying an additional 90,500 shares during the period. GSA Capital Partners LLP owned approximately 0.25% of Depomed worth $917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in DEPO. Piedmont Investment Advisors LLC acquired a new position in Depomed during the 2nd quarter valued at about $145,000. Captrust Financial Advisors acquired a new position in shares of Depomed in the second quarter valued at about $147,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of Depomed by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock valued at $157,000 after purchasing an additional 590 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Depomed by 71.0% in the third quarter. BNP Paribas Arbitrage SA now owns 32,251 shares of the specialty pharmaceutical company’s stock valued at $187,000 after purchasing an additional 13,388 shares during the period. Finally, Stevens Capital Management LP acquired a new position in shares of Depomed in the third quarter valued at about $188,000. 90.76% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Royal Bank of Canada set a $9.00 price objective on Depomed and gave the company a “hold” rating in a report on Thursday, December 7th. Piper Jaffray Companies reissued a “hold” rating and issued a $9.00 price objective on shares of Depomed in a report on Thursday, December 7th. BidaskClub raised Depomed from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. ValuEngine raised Depomed from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 5th. Finally, Mizuho raised Depomed from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Tuesday, December 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Depomed presently has an average rating of “Hold” and a consensus price target of $11.64.
Shares of Depomed Inc (DEPO) opened at $8.58 on Tuesday. The company has a market capitalization of $540.66, a PE ratio of -4.69 and a beta of 1.29. Depomed Inc has a 1-year low of $4.31 and a 1-year high of $21.38. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.90.
Depomed (NASDAQ:DEPO) last posted its earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $95.40 million for the quarter, compared to analyst estimates of $99.11 million. Depomed had a negative return on equity of 51.07% and a negative net margin of 27.73%. Depomed’s revenue for the quarter was down 13.7% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. analysts predict that Depomed Inc will post -1.34 EPS for the current year.
In related news, insider Arthur J. Higgins bought 75,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were purchased at an average cost of $8.16 per share, with a total value of $612,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.59% of the stock is owned by company insiders.
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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