BidaskClub upgraded shares of Depomed (NASDAQ:DEPO) from a strong sell rating to a sell rating in a research report released on Thursday morning.
A number of other equities research analysts have also recently commented on DEPO. UBS Group lifted their target price on Depomed from $6.00 to $7.00 and gave the stock a neutral rating in a research note on Friday, November 10th. Piper Jaffray Companies reiterated a hold rating and set a $9.00 target price on shares of Depomed in a research note on Thursday, December 7th. ValuEngine cut Depomed from a sell rating to a strong sell rating in a research note on Friday, February 2nd. Royal Bank of Canada set a $8.00 target price on Depomed and gave the stock a hold rating in a research note on Friday, October 27th. Finally, Mizuho upgraded Depomed from a neutral rating to a buy rating and set a $9.00 target price on the stock in a research note on Tuesday, December 5th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Depomed presently has an average rating of Hold and an average price target of $11.64.
Depomed (NASDAQ:DEPO) opened at $7.44 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.90. Depomed has a fifty-two week low of $4.31 and a fifty-two week high of $17.86.
In other Depomed news, insider Arthur J. Higgins bought 75,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were bought at an average cost of $8.16 per share, for a total transaction of $612,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.59% of the company’s stock.
A number of institutional investors have recently made changes to their positions in DEPO. Alliancebernstein L.P. raised its stake in Depomed by 35.1% in the 2nd quarter. Alliancebernstein L.P. now owns 128,176 shares of the specialty pharmaceutical company’s stock valued at $1,377,000 after acquiring an additional 33,330 shares during the period. Teachers Advisors LLC raised its stake in Depomed by 7.8% in the 2nd quarter. Teachers Advisors LLC now owns 169,339 shares of the specialty pharmaceutical company’s stock valued at $1,819,000 after acquiring an additional 12,227 shares during the period. Ameriprise Financial Inc. raised its stake in Depomed by 0.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 333,508 shares of the specialty pharmaceutical company’s stock valued at $3,581,000 after acquiring an additional 2,056 shares during the period. Nationwide Fund Advisors raised its stake in Depomed by 1.5% in the 2nd quarter. Nationwide Fund Advisors now owns 35,938 shares of the specialty pharmaceutical company’s stock valued at $386,000 after acquiring an additional 533 shares during the period. Finally, Thrivent Financial For Lutherans raised its stake in Depomed by 7.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 37,590 shares of the specialty pharmaceutical company’s stock valued at $404,000 after acquiring an additional 2,630 shares during the period. Institutional investors and hedge funds own 88.98% of the company’s stock.
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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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