Could Depomed Inc Rise Even More? The Stock Had Bullish Options Activity

 Could Depomed Inc Rise Even More? The Stock Had Bullish Options Activity

In today’s session Depomed Inc (DEPO) registered an unusually high (868) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious DEPO increase. With 868 contracts traded and 42694 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: DEPO161118C00026000 closed last at: $0.25 or 25% up. About 110,037 shares traded hands. Depomed Inc (NASDAQ:DEPO) has risen 32.91% since April 12, 2016 and is uptrending. It has outperformed by 27.93% the S&P500.

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. $33 is the highest target while $16 is the lowest. The $24.13 average target is 14.80% above today’s ($21.02) stock price. Depomed Inc has been the topic of 28 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Roth Capital maintained Depomed Inc (NASDAQ:DEPO) on Tuesday, September 1 with “Buy” rating. The rating was initiated by Piper Jaffray with “Overweight” on Monday, February 8. On Wednesday, February 24 the stock rating was maintained by WallachBeth Capital with “Buy”. As per Monday, May 9, the company rating was upgraded by Mizuho. Roth Capital maintained it with “Buy” rating and $24 target price in Wednesday, November 11 report. The rating was maintained by Mizuho on Friday, May 27 with “Buy”. RBC Capital Markets downgraded Depomed Inc (NASDAQ:DEPO) rating on Thursday, July 30. RBC Capital Markets has “Sector Perform” rating and $32 price target. On Wednesday, November 4 the stock rating was initiated by Cantor Fitzgerald with “Buy”. The firm has “Neutral” rating by Mizuho given on Thursday, January 7. On Wednesday, November 11 the stock rating was maintained by TH Capital with “Buy”.

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 Q2 2016. Its up 0.26, from 0.98 in 2016Q1. The ratio is positive, 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 Capital Limited Partnership, a California-based fund reported 5,831 shares. Spark Mgmt Limited Com owns 37,200 shares or 0.07% of their US portfolio. Teacher Retirement Sys Of Texas, a Texas-based fund reported 8,482 shares. State Street Corp, a Massachusetts-based fund reported 2.25M shares. The Michigan-based Comerica Retail Bank has invested 0.02% in Depomed Inc (NASDAQ:DEPO). Zacks Management accumulated 12,678 shares or 0.01% of the stock. Invesco Ltd last reported 2.47M shares in the company. Dupont Capital Management Corporation last reported 0.01% of its portfolio in the stock. Tekla Capital Mgmt Limited Co last reported 200,000 shares in the company. Miles accumulated 0.2% or 14,900 shares. Goldman Sachs Grp accumulated 0% or 162,112 shares. Blackrock Fund has 0.02% invested in the company for 5.06M shares. Hanseatic Management Service accumulated 0.28% or 37,274 shares. Teachers Retirement System Of The State Of Kentucky accumulated 0% or 15,700 shares. Blackrock Institutional Tru Company Na holds 1.49 million shares or 0% of its portfolio.

Insider Transactions: Since May 23, 2016, the stock had 0 insider purchases, and 4 selling transactions for $1.24 million net activity. $300,000 worth of shares were sold by Vargas Thadd M on Monday, May 23. Another trade for 5,000 shares valued at $107,000 was sold by Moretti August J.

Depomed, Inc. is a specialty pharmaceutical firm focused on pain and other central nervous system conditions. The company has a market cap of $1.32 billion.

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).

More important recent Depomed Inc (NASDAQ:DEPO) news were published by: Fool.com which released: “Why Depomed Inc.’s Shares Are Crashing 18.9% Today” on November 08, 2016, also Schaeffersresearch.com published article titled: “Analyst Update: Healthways, Inc., Depomed Inc, and Opko Health Inc.”, Nasdaq.com published: “Earnings Reaction History: Depomed, Inc., 85.7% Follow-Through Indicator, 6.6 …” on November 07, 2016. More interesting news about Depomed Inc (NASDAQ:DEPO) was released by: Wsj.com and their article: “Depomed to Add Starboard Nominees, Ending Dispute Over Board” with publication date: October 17, 2016.

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