Depomed Inc’s Stock Is Buy After Today’s Bullish Options Activity

 Depomed Inc's Stock Is Buy After Today's Bullish Options Activity

In today’s session Depomed Inc (DEPO) registered an unusually high (163) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious DEPO increase. With 163 contracts traded and 17984 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: DEPO161021C00024000 closed last at: $5 or 117.4% up. About 4.13 million shares traded hands or 153.37% up from the average. Depomed Inc (NASDAQ:DEPO) has risen 72.26% since March 1, 2016 and is uptrending. It has outperformed by 63.01% the S&P500.

Analysts await Depomed Inc (NASDAQ:DEPO) to report earnings on November, 14. They expect $-0.01 earnings per share, down 103.70% or $0.28 from last year’s $0.27 per share. After $-0.17 actual earnings per share reported by Depomed Inc for the previous quarter, Wall Street now forecasts -94.12% EPS growth.

Depomed Inc (NASDAQ:DEPO) Ratings Coverage

Out of 14 analysts covering Depomed Inc (NASDAQ:DEPO), 7 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 50% are positive. Depomed Inc has been the topic of 26 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The rating was downgraded by Mizuho to “Neutral” on Tuesday, October 4. On Thursday, July 30 the stock rating was downgraded by RBC Capital Markets to “Sector Perform”. As per Wednesday, July 27, the company rating was downgraded by PiperJaffray. As per Tuesday, February 9, the company rating was initiated by UBS. Northland Capital initiated Depomed Inc (NASDAQ:DEPO) on Thursday, March 24 with “Outperform” rating. Leerink Swann initiated the shares of DEPO in a report on Thursday, March 10 with “Outperform” rating. The firm has “Hold” rating given on Friday, October 16 by TheStreet. The stock of Depomed Inc (NASDAQ:DEPO) has “Neutral” rating given on Monday, October 3 by UBS. On Tuesday, February 23 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. WallachBeth Capital upgraded the stock to “Buy” rating in Wednesday, November 11 report.

Insitutional Activity: The institutional sentiment increased to 1.24 in Q2 2016. Its up 0.26, from 0.98 in 2016Q1. The ratio increased, as 31 funds sold all Depomed Inc shares owned while 57 reduced positions. 42 funds bought stakes while 67 increased positions. They now own 61.91 million shares or 2.39% less from 63.42 million shares in 2016Q1.
Geode Cap Limited Com has 0% invested in the company for 436,587 shares. Kennedy Capital Mngmt last reported 0.27% of its portfolio in the stock. Swiss Retail Bank holds 103,000 shares or 0% of its portfolio. Ls Advisors Lc reported 2,503 shares or 0% of all its holdings. Bancorp Of Montreal Can last reported 0% of its portfolio in the stock. The Florida-based Finemark Bank And Tru has invested 0% in Depomed Inc (NASDAQ:DEPO). Neuberger Berman Gp Ltd Limited Liability Company last reported 34,000 shares in the company. The Illinois-based Envestnet Asset has invested 0% in Depomed Inc (NASDAQ:DEPO). Omers Administration last reported 0.01% of its portfolio in the stock. Walleye Trading Limited Liability Com reported 11,800 shares or 0% of all its holdings. Blackrock Ltd Liability accumulated 0% or 28,975 shares. Blackrock Grp Ltd reported 89,307 shares or 0% of all its holdings. Millennium Mngmt Limited Liability Company holds 204,820 shares or 0.01% of its portfolio. Legal General Gru Public Limited Com last reported 15,110 shares in the company. Kistler, a Alabama-based fund reported 23 shares.

Insider Transactions: Since May 9, 2016, the stock had 0 insider buys, and 6 insider sales for $1.59 million net activity. $264,600 worth of shares were sold by Vargas Thadd M on Tuesday, May 10. The insider Moretti August J sold 5,000 shares worth $90,000.

Depomed, Inc. is a specialty pharmaceutical firm focused on pain and other central nervous system conditions. The company has a market cap of $1.59 billion.

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