Depomed Inc (NASDAQ:DEPO) Rating Reaffirmed
The financial company has just set a price target of $21.00 on Depomed Inc (NASDAQ:DEPO) shares. This is 11.05% from the stock close price. In analysts note distributed to Clients on Thursday, 3 December, Morgan Stanley has decided to restate their “Equal-weight” rating on shares of DEPO.
From a total of 6 analysts covering Depomed Inc (NASDAQ:DEPO) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 86% of the ratings are positive. The highest target price is $35 while the lowest target price is $24. The mean of all analyst targets is $29.17 with a 42.90% above today’s ($18.72) stock price. Depomed Inc was the topic of 11 analyst reports since July 30, 2015 according to the firm StockzIntelligence Inc. Roth Capital maintained shares on November 11 with “Buy” rating. WallachBeth Capital upgraded DEPO stock in a recent report from November 11 to “Buy” rating. Finally, RBC Capital Markets maintained the stock with “Sector Perform” rating in a report issued on an October 21.
Approximately 621,406 shares of stock traded hands. Depomed Inc (NASDAQ:DEPO) has declined 16.90% since April 30, 2015 and is downtrending. It has underperformed by 16.61% the S&P500.
Depomed, Inc. is a specialty pharmaceutical firm focused on pain and other central nervous system conditions. The company has a market cap of $1.15 billion. The Company’s products include Gralise (gabapentin), CAMBIA (diclofenac potassium for oral solution), Zipsor (diclofenac potassium) and Lazanda (fentanyl). It has 39.09 P/E ratio. Gralise is a once-daily product for the management of postherpetic neuralgia (PHN).
According to Zacks Investment Research, “Depomed, Inc. is a specialty pharmaceutical company utilizing its innovative AcuForm drug delivery technology to develop novel oral products and improved, extended release formulations of existing oral drugs. AcuForm-based products are designed to provide once- daily administration and reduced side effects, improving patient convenience, compliance and pharmacokinetic profiles. ProQuin XR extended-release tablets have been approved by the FDA for the once-daily treatment of uncomplicated urinary tract infections and are currently being marketed in the United States. In addition, once-daily Glumetza has been approved for use in adults with type two diabetes and is currently being marketed in the United States and Canada. The company is currently evaluating Gabapentin GR for the treatment of two pain indications, postherpetic neuralgia and diabetic peripheral neuropathy, and menopausal hot flashes.” Get a free copy of the Zacks research report on Depomed Inc (DEPO).