GSA Capital Partners LLP reduced its holdings in shares of Depomed Inc (NASDAQ:DEPO) by 40.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,700 shares of the specialty pharmaceutical company’s stock after selling 24,257 shares during the quarter. GSA Capital Partners LLP owned approximately 0.06% of Depomed worth $235,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Prudential Financial Inc. lifted its holdings in Depomed by 1,063.0% during the first quarter. Prudential Financial Inc. now owns 1,187,594 shares of the specialty pharmaceutical company’s stock worth $7,826,000 after acquiring an additional 1,085,478 shares during the period. Renaissance Technologies LLC lifted its holdings in Depomed by 167.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,723,400 shares of the specialty pharmaceutical company’s stock worth $21,923,000 after acquiring an additional 1,704,200 shares during the period. MANA Advisors LLC bought a new stake in Depomed during the fourth quarter worth $148,000. Massachusetts Financial Services Co. MA bought a new stake in Depomed during the first quarter worth $1,095,000. Finally, Bogle Investment Management L P DE lifted its holdings in Depomed by 5.8% during the fourth quarter. Bogle Investment Management L P DE now owns 1,010,367 shares of the specialty pharmaceutical company’s stock worth $8,133,000 after acquiring an additional 55,176 shares during the period. Institutional investors and hedge funds own 96.78% of the company’s stock.
A number of analysts recently commented on DEPO shares. Mizuho reiterated a “buy” rating and set a $9.00 price target on shares of Depomed in a report on Friday, March 23rd. Roth Capital set a $10.00 price target on Depomed and gave the stock a “buy” rating in a report on Friday, March 2nd. Finally, BidaskClub upgraded Depomed from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Depomed currently has a consensus rating of “Hold” and a consensus target price of $8.00.
Shares of DEPO opened at $6.67 on Friday. The firm has a market capitalization of $439.39 million, a price-to-earnings ratio of -5.29 and a beta of 1.20. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.73 and a current ratio of 0.75. Depomed Inc has a 1 year low of $4.31 and a 1 year high of $11.24.
Depomed (NASDAQ:DEPO) last issued its earnings results on Thursday, May 10th. The specialty pharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.69. The firm had revenue of $128.40 million for the quarter, compared to analyst estimates of $65.77 million. Depomed had a negative return on equity of 15.74% and a negative net margin of 10.02%. The business’s revenue was up 41.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. research analysts anticipate that Depomed Inc will post -0.48 earnings per share for the current fiscal year.
In other Depomed news, SVP Matthew M. Gosling sold 19,674 shares of the business’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $7.07, for a total value of $139,095.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.27% of the company’s stock.
Depomed, Inc, a specialty pharmaceutical company, engages in the development, sale, and licensing of products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the management of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; and Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults.
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