Depomed (DEPO) Receives $9.29 Consensus PT from Analysts
Shares of Depomed (NASDAQ:DEPO) have received a consensus recommendation of “Hold” from the ten ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $9.29.
Several equities research analysts have recently issued reports on the stock. Piper Jaffray reissued a “hold” rating and set a $8.00 target price on shares of Depomed in a research note on Thursday, March 1st. BidaskClub raised shares of Depomed from a “sell” rating to a “hold” rating in a research note on Wednesday, February 21st. Roth Capital set a $10.00 price target on shares of Depomed and gave the company a “buy” rating in a research note on Friday, March 2nd. ValuEngine lowered shares of Depomed from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Mizuho reaffirmed a “buy” rating and issued a $9.00 price target on shares of Depomed in a research note on Friday, March 23rd.
DEPO stock opened at $6.60 on Wednesday. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.70 and a current ratio of 0.74. Depomed has a 52-week low of $4.31 and a 52-week high of $12.34. The stock has a market cap of $421.11, a PE ratio of -5.24 and a beta of 1.19.
In related news, SVP Matthew M. Gosling sold 45,519 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $6.58, for a total value of $299,515.02. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.27% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in DEPO. Schwab Charles Investment Management Inc. raised its holdings in Depomed by 6.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 374,128 shares of the specialty pharmaceutical company’s stock valued at $2,167,000 after acquiring an additional 22,577 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Depomed by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,321,109 shares of the specialty pharmaceutical company’s stock valued at $13,439,000 after acquiring an additional 14,791 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Depomed in the 3rd quarter valued at about $245,000. GSA Capital Partners LLP raised its holdings in Depomed by 133.5% in the 3rd quarter. GSA Capital Partners LLP now owns 158,300 shares of the specialty pharmaceutical company’s stock valued at $917,000 after acquiring an additional 90,500 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in Depomed in the 4th quarter valued at about $288,000. Institutional investors own 91.63% of the company’s stock.
Depomed, Inc, a specialty pharmaceutical company, engages in the development, sale, and licensing of products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the management of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; and Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults.
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