epomed, Inc. (NASDAQ:DEPO) Given a $10.00 Price Target at Royal Bank Of Canada
Posted by Stefani Robinson on Oct 30th, 2017 // No Comments
Depomed, Inc. logoRoyal Bank Of Canada set a $10.00 target price on Depomed, Inc. (NASDAQ:DEPO) in a report published on Friday, October 20th. The brokerage currently has a hold rating on the specialty pharmaceutical company’s stock.
Several other equities analysts have also recently commented on the company. Piper Jaffray Companies set a $9.00 target price on Depomed and gave the company a hold rating in a research note on Sunday, October 15th. Mizuho reaffirmed a neutral rating and issued a $6.00 target price (down from $11.00) on shares of Depomed in a research report on Friday, October 13th. ValuEngine lowered Depomed from a sell rating to a strong sell rating in a research report on Thursday, September 28th. Morgan Stanley lowered Depomed from an equal weight rating to an underweight rating and lowered their price target for the company from $12.00 to $5.00 in a report on Tuesday, August 8th. Finally, Janney Montgomery Scott lowered Depomed from a buy rating to a neutral rating and lowered their price target for the company from $18.00 to $8.00 in a report on Tuesday, August 8th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $12.74.
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Shares of Depomed (DEPO) opened at 4.88 on Friday. The stock’s market capitalization is $307.38 million. The firm has a 50-day moving average of $5.74 and a 200 day moving average of $8.77. Depomed has a 52-week low of $4.77 and a 52-week high of $24.00.
Depomed (NASDAQ:DEPO) last issued its earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.52). The firm had revenue of $100.00 million for 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 firm’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 EPS. Equities research analysts forecast that Depomed will post $0.44 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its holdings in Depomed by 0.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 25,400 shares of the specialty pharmaceutical company’s stock valued at $273,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Depomed by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 32,521 shares of the specialty pharmaceutical company’s stock worth $349,000 after purchasing an additional 200 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of Depomed by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 45,478 shares of the specialty pharmaceutical company’s stock worth $488,000 after purchasing an additional 517 shares in the last quarter. Nationwide Fund Advisors grew its holdings in shares of Depomed by 1.5% during the 2nd quarter. Nationwide Fund Advisors now owns 35,938 shares of the specialty pharmaceutical company’s stock worth $386,000 after purchasing an additional 533 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew 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 purchasing an additional 590 shares in the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.