Captrust Financial Advisors bought a new stake in Depomed, Inc. (NASDAQ:DEPO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,720 shares of the specialty pharmaceutical company’s stock, valued at approximately $147,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wisconsin Investment Board boosted its stake in Depomed by 151.9% in the first quarter. State of Wisconsin Investment Board now owns 202,000 shares of the specialty pharmaceutical company’s stock valued at $2,535,000 after acquiring an additional 121,800 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Depomed by 76.6% in the first quarter. Asset Management One Co. Ltd. now owns 51,687 shares of the specialty pharmaceutical company’s stock valued at $658,000 after acquiring an additional 22,422 shares during the last quarter. Litespeed Management L.L.C. boosted its stake in Depomed by 55.0% in the first quarter. Litespeed Management L.L.C. now owns 1,833,698 shares of the specialty pharmaceutical company’s stock valued at $23,013,000 after acquiring an additional 650,746 shares during the last quarter. Ballentine Partners LLC purchased a new position in Depomed in the second quarter valued at about $442,000. Finally, Mason Street Advisors LLC boosted its stake in Depomed by 7.9% in the first quarter. Mason Street Advisors LLC now owns 14,521 shares of the specialty pharmaceutical company’s stock valued at $182,000 after acquiring an additional 1,064 shares during the last quarter. Hedge funds and other institutional investors own 91.25% of the company’s stock.
A number of research firms have weighed in on DEPO. Mizuho dropped their target price on shares of Depomed from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, May 25th. Royal Bank Of Canada set a $13.00 target price on shares of Depomed and gave the company a “hold” rating in a research note on Sunday, July 16th. Piper Jaffray Companies restated a “neutral” rating and set a $9.00 price target (down from $10.00) on shares of Depomed in a research note on Wednesday, August 9th. Janney Montgomery Scott cut shares of Depomed from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $8.00 in a research note on Tuesday, August 8th. Finally, BidaskClub cut shares of Depomed from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.59.
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Shares of Depomed, Inc. (DEPO) opened at 6.19 on Friday. Depomed, Inc. has a 52 week low of $5.81 and a 52 week high of $27.02. The company’s 50 day moving average is $6.94 and its 200-day moving average is $10.72. The stock’s market capitalization is $389.90 million.
Depomed (NASDAQ:DEPO) last posted its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.52). The business had revenue of $100.00 million during the quarter, compared to analysts’ expectations of $100.40 million. Depomed had a negative return on equity of 45.03% and a negative net margin of 26.02%. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. On average, equities analysts predict that Depomed, Inc. will post $0.48 earnings per share for the current year.
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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