Depomed Inc (DEPO) : Healthinvest Partners Ab has sold out all of its stake in Depomed Inc during the most recent quarter, according to the disclosure filed by the company on Jul 26, 2016 with the SEC. The investment management company has sold out 200,000 shares of Depomed Inc which is valued at $3,740,000.
Other Hedge Funds, Including , Deltec Asset Management reduced its stake in DEPO by selling 128,400 shares or 5.7% in the most recent quarter. The Hedge Fund company now holds 2,124,002 shares of DEPO which is valued at $39,718,837. Depomed Inc makes up approx 9.54% of Deltec Asset Management’s portfolio.New York State Teachers Retirement System reduced its stake in DEPO by selling 8,000 shares or 5.43% in the most recent quarter. The Hedge Fund company now holds 139,213 shares of DEPO which is valued at $2,645,047. Depomed Inc makes up approx 0.01% of New York State Teachers Retirement System’s portfolio.Farmers Merchants Investments Inc reduced its stake in DEPO by selling 81 shares or 20.4% in the most recent quarter. The Hedge Fund company now holds 316 shares of DEPO which is valued at $6,102. Cutler Group Lp added DEPO to its portfolio by purchasing 5,493 company shares during the most recent quarter which is valued at $101,895. Depomed Inc makes up approx 0.01% of Cutler Group Lp’s portfolio. Kistler-tiffany Companies added DEPO to its portfolio by purchasing 23 company shares during the most recent quarter which is valued at $432.
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.