The stock of Depomed Inc (NASDAQ:DEPO) is a huge mover today! About 8.89M shares traded hands or 405.11% up from the average. Depomed Inc (NASDAQ:DEPO) has risen 54.35% since April 6, 2016 and is uptrending. It has outperformed by 52.39% the S&P500.
The move comes after 6 months negative chart setup for the $1.15B company. It was reported on Nov, 8 by Barchart.com. We have $17.09 PT which if reached, will make NASDAQ:DEPO worth $92.00 million less.
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), 6 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 43% are positive. Depomed Inc has been the topic of 27 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by UBS on Monday, October 3. The stock has “Sector Perform” rating given by RBC Capital Markets on Thursday, July 30. The rating was maintained by Mizuho with “Buy” on Thursday, February 25. The rating was maintained by Roth Capital with “Buy” on Tuesday, September 1. The company was initiated on Thursday, March 10 by Leerink Swann. Mizuho maintained the stock with “Buy” rating in Friday, May 27 report. The stock has “Hold” rating given by TheStreet on Friday, October 16. On Friday, July 24 the stock rating was maintained by WallachBeth Capital with “Hold”. The company was downgraded on Tuesday, October 4 by Mizuho. The firm has “Neutral” rating by Janney Capital given on Friday, July 31.
According to Zacks Investment Research, “Depomed, Inc. is a specialty pharmaceutical company utilizing its innovative AcuForm drug delivery technology to develop novel oral products and improved, extended release formulations of existing oral drugs. AcuForm-based products are designed to provide once- daily administration and reduced side effects, improving patient convenience, compliance and pharmacokinetic profiles. ProQuin XR extended-release tablets have been approved by the FDA for the once-daily treatment of uncomplicated urinary tract infections and are currently being marketed in the United States. In addition, once-daily Glumetza has been approved for use in adults with type two diabetes and is currently being marketed in the United States and Canada. The company is currently evaluating Gabapentin GR for the treatment of two pain indications, postherpetic neuralgia and diabetic peripheral neuropathy, and menopausal hot flashes.”
Insitutional Activity: The institutional sentiment increased to 1.24 in 2016 Q2. 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.
Globeflex Ltd Partnership last reported 5,831 shares in the company. Legal & General Group Public Limited Co has invested 0% of its portfolio in Depomed Inc (NASDAQ:DEPO). Principal Group has 430,178 shares for 0.01% of their US portfolio. The Massachusetts-based Putnam Limited Liability has invested 0% in Depomed Inc (NASDAQ:DEPO). State Bank Of New York Mellon Corporation holds 793,055 shares or 0% of its portfolio. Bancorp Of Montreal Can has 3,899 shares for 0% of their US portfolio. Airain Ltd last reported 0.03% of its portfolio in the stock. Farmers & Merchants Invests has 316 shares for 0% of their US portfolio. Diam Limited owns 8,134 shares or 0% of their US portfolio. Glenmede Trust Comm Na accumulated 0.24% or 2.04M shares. The New York-based Starboard Value L P has invested 4.18% in Depomed Inc (NASDAQ:DEPO). Ridgeworth Cap Ltd Llc, a Georgia-based fund reported 24,894 shares. California State Teachers Retirement last reported 0.01% of its portfolio in the stock. Perceptive Advisors Ltd Liability Company holds 600,000 shares or 0.81% of its portfolio. State Street holds 0% of its portfolio in Depomed Inc (NASDAQ:DEPO) for 2.25 million shares.
Insider Transactions: Since May 9, 2016, the stock had 0 buys, and 4 insider sales for $1.24 million net activity. On Wednesday, August 10 the insider Vargas Thadd M sold $549,987. $107,000 worth of Depomed Inc (NASDAQ:DEPO) was sold by Moretti August J on Wednesday, August 10.
More recent Depomed Inc (NASDAQ:DEPO) news were published by: Nasdaq.com which released: “Earnings Reaction History: Depomed, Inc., 85.7% Follow-Through Indicator, 6.6 …” on November 07, 2016. Also Rttnews.com published the news titled: “Depomed Inc. (DEPO) Has Fallen To A 4-Month Low After Q3 Miss” on November 08, 2016. Seekingalpha.com‘s news article titled: “Depomed: A Gift From The Indexers” with publication date: November 04, 2016 was also an interesting one.
DEPO Company Profile
Depomed, Inc., incorporated on August 7, 1995, is a specialty pharmaceutical firm focused on pain and other central nervous system (CNS) conditions. The Company’s products include The NUCYNTA franchise of pain products, including NUCYNTA ER (tapentadol extended release tablets) and NUCYNTA (tapentadol); Gralise (gabapentin); CAMBIA (diclofenac potassium for oral solution); Lazanda (fentanyl) nasal spray, and Zipsor (diclofenac potassium).
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