Senvest Management buys $88.9 Million stake in Depomed Inc (DEPO)

Depomed Inc (DEPO) : Senvest Management scooped up 851,330 additional shares in Depomed Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 4,977,256 shares of Depomed Inc which is valued at $88.9 Million.Depomed Inc makes up approximately 7.91% of Senvest Management’s portfolio.

Other Hedge Funds, Including , Kennedy Capital Management reduced its stake in DEPO by selling 631 shares or 0.1% in the most recent quarter. The Hedge Fund company now holds 651,546 shares of DEPO which is valued at $11.6 Million. Depomed Inc makes up approx 0.24% of Kennedy Capital Management’s portfolio.Cornerstone Capital Management Holdings. reduced its stake in DEPO by selling 126,751 shares or 78.22% in the most recent quarter. The Hedge Fund company now holds 35,287 shares of DEPO which is valued at $630,579. Depomed Inc makes up approx 0.01% of Cornerstone Capital Management Holdings.’s portfolio.Comerica Bank reduced its stake in DEPO by selling 832 shares or 0.74% in the most recent quarter. The Hedge Fund company now holds 110,939 shares of DEPO which is valued at $2 Million. Depomed Inc makes up approx 0.02% of Comerica Bank’s portfolio. Diam Ltd. sold out all of its stake in DEPO during the most recent quarter. The investment firm sold 58,787 shares of DEPO which is valued $911,786.Rhumbline Advisers boosted its stake in DEPO in the latest quarter, The investment management firm added 2,910 additional shares and now holds a total of 82,039 shares of Depomed Inc which is valued at $1.3 Million.

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.

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.

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.

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.

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