Depomed Inc (DEPO) is Reiterated by Mizuho to Buy, Raises Price Target to $ 23

Depomed Inc (DEPO) was Reiterated by Mizuho to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 23 from a previous price target of $19 . Mizuho advised their investors in a research report released on May 27, 2016.

Many Wall Street Analysts have commented on Depomed Inc. Mizuho Upgraded Depomed Inc on May 9, 2016 to ” Buy”, Price Target of the shares are set at $19.Company shares were Reiterated by Mizuho on Apr 11, 2016 to “Neutral”, Firm has raised the Price Target to $ 18 from a previous price target of $14 .Depomed Inc was Initiated by Northland Capital to “Outperform” on Mar 24, 2016.

On the company’s financial health, Depomed Inc reported $0.12 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.18. The company had revenue of $104.60 million for the quarter, compared to analysts expectations of $106.88 million. The company’s revenue was up 230.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.13 EPS.

Depomed Inc closed down -0.16 points or -0.79% at $19.97 with 18,41,469 shares getting traded on Wednesday. Post opening the session at $20.3, the shares hit an intraday low of $19.73 and an intraday high of $20.39 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on May 25, 2016, Thadd M Vargas (Senior VP, BD) sold 15,000 shares at $20.00 per share price. According to the SEC, on May 9, 2016, August J Moretti (Chief Financial Officer & SVP) sold 5,000 shares at $18.00 per share price.

Depomed Inc. is a specialty pharmaceutical company focused on pain and other central nervous system (CNS) conditions. The Company’s 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 Company’s product DM-1992 has completed a Phase II trial for Parkinson’s disease.

Depomed Inc

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