Depomed Inc (DEPO) was Downgraded by Mizuho to ” Neutral” and the brokerage firm has set the Price Target at $27. Earlier the firm had a rating of “Buy ” on the company shares. Mizuho advised their investors in a research report released on Oct 4, 2016.
Many Wall Street Analysts have commented on Depomed Inc. Company shares were Reiterated by Mizuho on Sep 19, 2016 to “Buy”, Firm has raised the Price Target to $ 27 from a previous price target of $23 .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.
On the company’s financial health, Depomed Inc reported $0.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.26. The company had revenue of $116.70 million for the quarter, compared to analysts expectations of $118.48 million. The company’s revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.
Depomed Inc opened for trading at $23.9 and hit $27.0199 on the upside on Friday, eventually ending the session at $24.9699, with a gain of 4.52% or 1.0799 points. The heightened volatility saw the trading volume jump to 21,01,433 shares. Company has a market cap of $1,532 M.
In a different news, on Sep 22, 2016, Thadd M Vargas (Senior VP, BD) sold 11,250 shares at $25.00 per share price. According to the SEC, on Aug 11, 2016, August J Moretti (Chief Financial Officer & SVP) sold 5,000 shares at $21.40 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.