Depomed, Inc. (DEPO) PT Set at $9.00 by Piper Jaffray Companies

Depomed, Inc. (NASDAQ:DEPO) has been assigned a $9.00 price objective by stock analysts at Piper Jaffray Companies in a report issued on Sunday. The firm presently has a “hold” rating on the specialty pharmaceutical company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 74.76% from the company’s previous close.

Several other research firms have also issued reports on DEPO. Royal Bank Of Canada set a $13.00 price objective on Depomed and gave the stock a “hold” rating in a research note on Sunday, July 16th. Janney Montgomery Scott lowered Depomed from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $8.00 in a research note on Tuesday, August 8th. Mizuho reiterated a “neutral” rating and set a $6.00 price objective (down from $11.00) on shares of Depomed in a research note on Friday. ValuEngine upgraded Depomed from a “strong sell” rating to a “sell” rating in a research note on Monday, September 11th. Finally, BidaskClub lowered Depomed from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $12.94.

Shares of Depomed (NASDAQ:DEPO) opened at 5.15 on Friday. The stock’s 50 day moving average is $5.98 and its 200-day moving average is $9.25. Depomed has a 1-year low of $4.93 and a 1-year high of $24.50. The stock’s market cap is $324.39 million.

Depomed (NASDAQ:DEPO) last posted its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.52). Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The business had revenue of $100.00 million during the quarter, compared to the consensus estimate of $100.40 million. During the same period in the prior year, the company posted $0.27 earnings per share. The firm’s revenue was down 14.3% compared to the same quarter last year. On average, analysts anticipate that Depomed will post $0.48 EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of DEPO. State of Alaska Department of Revenue boosted its stake 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 period. Piedmont Investment Advisors LLC bought a new stake in Depomed in the 2nd quarter valued at $145,000. Captrust Financial Advisors bought a new stake in Depomed in the 2nd quarter valued at $147,000. Municipal Employees Retirement System of Michigan boosted its stake in Depomed by 4.2% in the 2nd qu

Several other research firms have also issued reports on DEPO. Royal Bank Of Canada set a $13.00 price objective on Depomed and gave the stock a “hold” rating in a research note on Sunday, July 16th. Janney Montgomery Scott lowered Depomed from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $8.00 in a research note on Tuesday, August 8th. Mizuho reiterated a “neutral” rating and set a $6.00 price objective (down from $11.00) on shares of Depomed in a research note on Friday. ValuEngine upgraded Depomed from a “strong sell” rating to a “sell” rating in a research note on Monday, September 11th. Finally, BidaskClub lowered Depomed from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $12.94.

Shares of Depomed (NASDAQ:DEPO) opened at 5.15 on Friday. The stock’s 50 day moving average is $5.98 and its 200-day moving average is $9.25. Depomed has a 1-year low of $4.93 and a 1-year high of $24.50. The stock’s market cap is $324.39 million.

Depomed (NASDAQ:DEPO) last posted its quarterly earnings data on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.52). Depomed had a negative net margin of 26.02% and a negative return on equity of 45.03%. The business had revenue of $100.00 million during the quarter, compared to the consensus estimate of $100.40 million. During the same period in the prior year, the company posted $0.27 earnings per share. The firm’s revenue was down 14.3% compared to the same quarter last year. On average, analysts anticipate that Depomed will post $0.48 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Depomed, Inc. (DEPO) PT Set at $9.00 by Piper Jaffray Companies” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://ledgergazette.com/2017/10/16/depomed-inc-depo-pt-set-at-9-00-by-piper-jaffray-companies.html.

Several hedge funds and other institutional investors have recently modified their holdings of DEPO. State of Alaska Department of Revenue boosted its stake 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 period. Piedmont Investment Advisors LLC bought a new stake in Depomed in the 2nd quarter valued at $145,000. Captrust Financial Advisors bought a new stake in Depomed in the 2nd quarter valued at $147,000. Municipal Employees Retirement System of Michigan boosted its stake in Depomed by 4.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock valued at $157,000 after purchasing an additional 590 shares during the period. Finally, Two Sigma Securities LLC bought a new stake in Depomed in the 1st quarter valued at $180,000. Institutional investors own 91.25% of the company’s stock.

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).

Analyst Recommendations for Depomed (NASDAQ:DEPO)

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