Depomed Inc (DEPO) : Deltec Asset Management reduced its stake in Depomed Inc by 5.7% during the most recent quarter end. The investment management company now holds a total of 2,124,002 shares of Depomed Inc which is valued at $39,718,837 after selling 128,400 shares in Depomed Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Depomed Inc makes up approximately 9.54% of Deltec Asset Management’s portfolio.
Other Hedge Funds, Including , American Century Companies Inc boosted its stake in DEPO in the latest quarter, The investment management firm added 450 additional shares and now holds a total of 70,780 shares of Depomed Inc which is valued at $1,323,586.Msi Financial Services Inc boosted its stake in DEPO in the latest quarter, The investment management firm added 35 additional shares and now holds a total of 461 shares of Depomed Inc which is valued at $8,621. Simplex Trading sold out all of its stake in DEPO during the most recent quarter. The investment firm sold 10,963 shares of DEPO which is valued $211,696. Fox Run Management L.l.c. sold out all of its stake in DEPO during the most recent quarter. The investment firm sold 17,400 shares of DEPO which is valued $335,994.First Manhattan Co boosted its stake in DEPO in the latest quarter, The investment management firm added 325,000 additional shares and now holds a total of 327,000 shares of Depomed Inc which is valued at $6,304,560. Depomed Inc makes up approx 0.04% of First Manhattan Co’s portfolio.
Depomed Inc closed down -0.28 points or -1.45% at $18.97 with 6,94,800 shares getting traded on Friday. Post opening the session at $19.37, the shares hit an intraday low of $18.92 and an intraday high of $19.4 and the price fluctuated in this range throughout the day.Shares ended Friday 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. Depomed Inc was Downgraded by Piper Jaffray to ” Neutral” on Jul 27, 2016. UBS Downgraded Depomed Inc on Jul 7, 2016 to ” Neutral”, Price Target of the shares are set at $20.Company shares were Reiterated by Mizuho on May 27, 2016 to “Buy”, Firm has raised the Price Target to $ 23 from a previous price target of $19 .
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.