Mizuho issues ” Neutral” Rating on Depomed Inc (DEPO)

Depomed Inc (DEPO) was Downgraded by Mizuho to ” Neutral” while Lowering the Price Target of the company shares to $ 17 from a previous price target of $24 . Earlier the firm had a rating of “Buy ” on the company shares. Mizuho advised their Clients and Investors in a research report released on Feb 14, 2017.

On the company’s financial health, Depomed Inc reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Nov 7, 2016. Analyst had a consensus of $0.36. The company had revenue of $110.50 million for the quarter, compared to analysts expectations of $126.82 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Several company insiders have filed Insider transactions , on Nov 15, 2016, August J Moretti (Chief Financial Officer & SVP) sold 5,000 shares at $20.84 per share price. According to the SEC, on Sep 22, 2016, Thadd M Vargas (Senior VP, BD) sold 11,250 shares at $25.00 per share price.

Depomed Inc closed down -0.38 points or -2.24% at $16.59 with 18,82,567 shares getting traded on Friday. Post opening the session at $16.87, the shares hit an intraday low of $16.45 and an intraday high of $16.89 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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