Depomed Inc (DEPO) was Reiterated by Mizuho to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 18 from a previous price target of $14 . Mizuho advised their investors in a research report released on Apr 11, 2016.
Many Wall Street Analysts have commented on Depomed Inc. Depomed Inc was Initiated by Northland Capital to “Outperform” on Mar 24, 2016. Shares were Reiterated by Mizuho on Mar 24, 2016 to “Neutral” and Lowered the Price Target to $ 14 from a previous price target of $16 .Leerink Partners Initiated Depomed Inc on Mar 10, 2016 to “Outperform”, Price Target of the shares are set at $21.
On the company’s financial health, Depomed Inc reported $0.16 EPS for the quarter, missing the analyst consensus estimate by $ -0.15 based on the information available during the earnings call on Feb 22, 2016. Analyst had a consensus of $0.31. The company had revenue of $111.20 million for the quarter, compared to analysts expectations of $110.68 million. The company’s revenue was down -42.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 EPS.
Depomed Inc closed down -0.52 points or -3.07% at $16.43 with 34,36,218 shares getting traded on Monday. Post opening the session at $16.95, the shares hit an intraday low of $16.1 and an intraday high of $17.004 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Mar 11, 2016, Thadd M Vargas (Senior VP, BD) sold 23,000 shares at $16.00 per share price. According to the SEC, on Dec 3, 2015, August J Moretti (Chief Financial Officer & SVP) sold 15,000 shares at $18.07 per share price.
Depomed Inc. is a specialty pharmaceutical company focused on pain and other central nervous system (CNS) conditions. The Companys products include Gralise (gabapentin) CAMBIA (diclofenac potassium for oral solution) Zipsor (diclofenac potassium) and Lazanda (fentanyl). Gralise is a once-daily product for the management of postherpetic neuralgia (PHN). CAMBIA is a non-steroidal anti-inflammatory drug (NSAID) for the acute treatment of migraine attacks. Zipsor a liquid filled capsule is a NSAID for the treatment of mild to moderate acute pain. Lazanda nasal spray is used for the management of break through pain in cancer patients 18 years of age and older who are already receiving and who are tolerant to opioid therapy for their underlying persistent cancer pain. It also has a portfolio of license agreements based on its Acuform gastroretentive drug delivery technology. The Companys product DM-1992 has completed a Phase II trial for Parkinson’s disease.