Depomed Inc (NASDAQ:DEPO) SVP Matthew M. Gosling sold 45,519 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $6.58, for a total transaction of $299,515.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Depomed Inc (NASDAQ:DEPO) traded down $0.21 during mid-day trading on Friday, reaching $6.81. 1,579,013 shares of the company traded hands, compared to its average volume of 1,317,086. The firm has a market capitalization of $445.07, a price-to-earnings ratio of -4.18 and a beta of 1.10. The company has a current ratio of 0.74, a quick ratio of 0.70 and a debt-to-equity ratio of 3.21. Depomed Inc has a 52 week low of $4.31 and a 52 week high of $16.09.
Depomed (NASDAQ:DEPO) last released its quarterly earnings results on Tuesday, February 27th. The specialty pharmaceutical company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.05. The company had revenue of $94.41 million for the quarter, compared to analyst estimates of $88.75 million. Depomed had a negative net margin of 26.92% and a negative return on equity of 45.19%. research analysts predict that Depomed Inc will post -1.03 EPS for the current year.
DEPO has been the subject of several recent research reports. Mizuho raised shares of Depomed from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a report on Tuesday, December 5th. Roth Capital set a $10.00 target price on shares of Depomed and gave the stock a “buy” rating in a report on Friday, March 2nd. Piper Jaffray Companies reissued a “hold” rating and set a $8.00 target price on shares of Depomed in a report on Thursday, March 1st. BidaskClub raised shares of Depomed from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada set a $9.00 target price on shares of Depomed and gave the stock a “hold” rating in a report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Depomed currently has an average rating of “Hold” and an average price target of $9.56.
A number of hedge funds have recently added to or reduced their stakes in DEPO. Jane Street Group LLC acquired a new stake in Depomed during the fourth quarter valued at $127,000. Arrowstreet Capital Limited Partnership acquired a new stake in Depomed during the fourth quarter valued at $131,000. MANA Advisors LLC acquired a new stake in Depomed during the fourth quarter valued at $148,000. Teacher Retirement System of Texas acquired a new stake in Depomed during the fourth quarter valued at $155,000. Finally, BNP Paribas Arbitrage SA grew its position in Depomed by 71.0% during the third quarter. BNP Paribas Arbitrage SA now owns 32,251 shares of the specialty pharmaceutical company’s stock valued at $187,000 after buying an additional 13,388 shares during the period. Institutional investors own 91.43% of the company’s stock.
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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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