Depomed Inc. (NASDAQ:DEPO) has been given a $27.00 price objective by equities research analysts at Roth Capital in a report issued on Monday. The brokerage currently has a “buy” rating on the specialty pharmaceutical company’s stock. Roth Capital’s price target indicates a potential upside of 36.85% from the stock’s previous close.

A number of other analysts also recently issued reports on DEPO. Mizuho reissued a “buy” rating and set a $23.00 target price on shares of Depomed in a research report on Thursday, August 4th. Janney Montgomery Scott reissued a “buy” rating and set a $28.00 target price on shares of Depomed in a research report on Thursday, August 4th. JMP Securities dropped their target price on shares of Depomed from $28.00 to $22.00 and set a “market outperform” rating for the company in a research report on Thursday, August 4th. Piper Jaffray Cos. reissued a “neutral” rating and set a $19.00 target price (up previously from $18.00) on shares of Depomed in a research report on Thursday, August 4th. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Depomed in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.99.

Analyst Recommendations for Depomed (NASDAQ:DEPO)

Shares of Depomed (NASDAQ:DEPO) opened at 19.73 on Monday. Depomed has a 12 month low of $12.25 and a 12 month high of $27.02. The stock’s 50 day moving average is $22.27 and its 200 day moving average is $21.13. The stock’s market cap is $1.21 billion.

Depomed (NASDAQ:DEPO) last posted its earnings results on Monday, November 7th. The specialty pharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.07. The business had revenue of $111 million for the quarter, compared to analyst estimates of $127.22 million. Depomed had a negative return on equity of 7.49% and a negative net margin of 16.93%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.33 EPS. Analysts predict that Depomed will post $1.04 earnings per share for the current fiscal year.

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In related news, CFO August J. Moretti sold 5,000 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $20.84, for a total transaction of $104,200.00. Following the transaction, the chief financial officer now directly owns 26,680 shares in the company, valued at $556,011.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thadd M. Vargas sold 11,250 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $25.00, for a total value of $281,250.00. Following the transaction, the vice president now owns 73,086 shares in the company, valued at $1,827,150. The disclosure for this sale can be found here. Insiders own 5.12% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Depomed during the second quarter valued at about $384,000. California State Teachers Retirement System boosted its position in shares of Depomed by 0.8% in the second quarter. California State Teachers Retirement System now owns 128,023 shares of the specialty pharmaceutical company’s stock valued at $2,512,000 after buying an additional 1,033 shares during the period. Nordea Investment Management AB boosted its position in shares of Depomed by 257.5% in the second quarter. Nordea Investment Management AB now owns 31,700 shares of the specialty pharmaceutical company’s stock valued at $622,000 after buying an additional 22,833 shares during the period. ClariVest Asset Management LLC boosted its position in shares of Depomed by 15.5% in the second quarter. ClariVest Asset Management LLC now owns 92,487 shares of the specialty pharmaceutical company’s stock valued at $1,814,000 after buying an additional 12,400 shares during the period. Finally, Alps Advisors Inc. boosted its position in shares of Depomed by 25.3% in the second quarter. Alps Advisors Inc. now owns 85,830 shares of the specialty pharmaceutical company’s stock valued at $1,684,000 after buying an additional 17,337 shares during the period.

Depomed Company Profile

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