Stevens Capital Management LP Buys New Position in Depomed, Inc. (DEPO)

Stevens Capital Management LP acquired a new position in shares of Depomed, Inc. (NASDAQ:DEPO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 32,537 shares of the specialty pharmaceutical company’s stock, valued at approximately $188,000. Stevens Capital Management LP owned approximately 0.05% of Depomed as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in DEPO. State of Alaska Department of Revenue increased its holdings in shares of Depomed by 79.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 12,298 shares of the specialty pharmaceutical company’s stock worth $132,000 after acquiring an additional 5,448 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Depomed during the 2nd quarter worth approximately $145,000. Captrust Financial Advisors acquired a new position in shares of Depomed during the 2nd quarter worth approximately $147,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of Depomed by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock worth $157,000 after acquiring an additional 590 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Depomed during the 1st quarter worth approximately $248,000. Institutional investors own 90.52% of the company’s stock.

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Depomed, Inc. (NASDAQ DEPO) opened at $6.30 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, Inc. has a 1 year low of $4.31 and a 1 year high of $21.38.

Depomed (NASDAQ:DEPO) last posted its earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $95.40 million during the quarter, compared to the consensus estimate of $99.11 million. Depomed had a negative return on equity of 51.07% and a negative net margin of 27.73%. The business’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. sell-side analysts predict that Depomed, Inc. will post -1.34 EPS for the current fiscal year.

A number of research analysts recently weighed in on the company. Royal Bank Of Canada decreased their target price on Depomed from $13.00 to $10.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 8th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $9.00 price objective (down from $10.00) on shares of Depomed in a report on Wednesday, August 9th. Janney Montgomery Scott lowered Depomed from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $8.00 in a report on Tuesday, August 8th. Mizuho reaffirmed a “neutral” rating and issued a $6.00 price objective (down from $11.00) on shares of Depomed in a report on Friday, October 13th. Finally, UBS Group AG upped their price objective on Depomed from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Depomed has a consensus rating of “Hold” and a consensus target price of $10.64.

About Depomed

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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Institutional Ownership by Quarter for Depomed (NASDAQ:DEPO)

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