Mizuho upgraded shares of Depomed (NASDAQ:DEPO) from a neutral rating to a buy rating in a report published on Tuesday morning. The firm currently has $9.00 price target on the specialty pharmaceutical company’s stock.
Several other research firms have also recently weighed in on DEPO. Morgan Stanley upgraded shares of Depomed from an underweight rating to an equal weight rating in a report on Thursday, November 9th. ValuEngine upgraded shares of Depomed from a strong sell rating to a sell rating in a report on Monday, September 11th. Piper Jaffray Companies set a $9.00 price target on shares of Depomed and gave the company a hold rating in a report on Sunday, October 15th. Royal Bank Of Canada reduced their price target on shares of Depomed from $8.00 to $6.00 and set a sector perform rating for the company in a report on Wednesday, November 8th. Finally, Janney Montgomery Scott cut shares of Depomed from a buy rating to a neutral rating and reduced their price target for the company from $18.00 to $8.00 in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Depomed presently has an average rating of Hold and a consensus target price of $10.94.
Depomed (NASDAQ:DEPO) traded up $0.71 during trading on Tuesday, hitting $7.86. 6,373,300 shares of the stock traded hands, compared to its average volume of 1,647,661. Depomed has a 12 month low of $4.31 and a 12 month high of $21.38. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.90.
Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in shares of Depomed by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 12,298 shares of the specialty pharmaceutical company’s stock worth $132,000 after purchasing an additional 5,448 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Depomed in the second quarter worth $145,000. Captrust Financial Advisors bought a new stake in shares of Depomed in the second quarter worth $147,000. Municipal Employees Retirement System of Michigan lifted its position in shares of Depomed by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock worth $157,000 after purchasing an additional 590 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Depomed by 71.0% in the third quarter. BNP Paribas Arbitrage SA now owns 32,251 shares of the specialty pharmaceutical company’s stock worth $187,000 after purchasing an additional 13,388 shares in the last quarter. 90.99% of the stock is currently owned by institutional investors and hedge funds.
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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