Depomed (NASDAQ:DEPO) dropped 0% during mid-day trading on Tuesday . The stock traded as low as $6.58 and last traded at $6.69. Approximately 3,739,419 shares traded hands during mid-day trading, an increase of 190% from the average daily volume of 1,287,687 shares. The stock had previously closed at $6.69.
DEPO has been the topic of several research analyst reports. BidaskClub downgraded Depomed from a “hold” rating to a “sell” rating in a research report on Friday, May 4th. Mizuho reissued a “buy” rating and set a $9.00 target price on shares of Depomed in a research report on Friday, March 23rd. ValuEngine downgraded Depomed from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Roth Capital set a $10.00 target price on Depomed and gave the stock a “buy” rating in a research report on Friday, March 2nd. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $8.00 target price on shares of Depomed in a research report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Depomed presently has an average rating of “Hold” and a consensus price target of $8.00.
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The stock has a market capitalization of $483.90 million, a price-to-earnings ratio of -5.31 and a beta of 1.22. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.75 and a quick ratio of 0.73.
Depomed (NASDAQ:DEPO) last released its earnings results on Thursday, May 10th. The specialty pharmaceutical company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.69. Depomed had a negative return on equity of 15.74% and a negative net margin of 10.02%. The business had revenue of $128.40 million for the quarter, compared to the consensus estimate of $65.77 million. During the same period last year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was up 41.9% compared to the same quarter last year. equities research analysts anticipate that Depomed will post -1.1 EPS for the current fiscal year.
In other Depomed news, SVP Matthew M. Gosling sold 19,674 shares of the firm’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $7.07, for a total transaction of $139,095.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.27% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in Depomed during the fourth quarter worth about $127,000. Arrowstreet Capital Limited Partnership bought a new position in Depomed during the fourth quarter worth about $131,000. ClariVest Asset Management LLC bought a new position in Depomed during the first quarter worth about $108,000. MANA Advisors LLC bought a new position in Depomed during the fourth quarter worth about $148,000. Finally, Teacher Retirement System of Texas bought a new position in Depomed during the fourth quarter worth about $155,000. Hedge funds and other institutional investors own 97.36% 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.