Depomed Inc. (NASDAQ:$DEPO), an American pharmaceutical company, is down from yesterday’s close of $9.84. Currently, the California-based company is trading at $9.58 which is slightly under the $10.89 50-day moving average, and just below the 200-day moving average ($15.24). The 50-day moving average dropped $-1.43 while the 200 day average dropped $-5.78.
When considering the increase in short interest, investors tend to be relatively bearish about Depomed Inc. Between May 15, 2017 and April 28, 2017, DEPO’s stock had a 1.50% increase in short interest. Over that time frame, short shares rose 178,073. As of April 28, 2017, the days to cover dropped to 6.1 and the short interest percentage is 0.19%.
Keep reading for a quick breakdown of Depomed, Inc’s market activity:
On Thursday May 11, senior Vice President Matthew M. Gosling sold 59,212 shares for a price of $11.37. As a result, Gosling owns $234,961 of DEPO’s stock. Additionally, Thadd M. Vargas announced the sale of 50,000 shares of DEPO. These shares were sold on May 11 for $12.03. According to the SEC filing, Vargas owns $500,051 of Depomed, Inc’s stock. Last but not least, CFO August J. Moretti reported the sale of 5,000 shares of Depomed, Inc’s stock. The shares were bought at a price of $20.84 and respectively, Moretti now owns $451,811 of the stock.
Put in motion on August 7, 1995, Depomed, Inc is a speciality pharmaceutical company who focuses on neurology, pain and diseases in the central nervous system. As of right now, the company’s most popular products include the following: tapentadol extended release tablets (NUCYNTA ER), tapentadol (NUCYNTA), Gabapentin (Gralise) and fentanyl (Lazanda).
Below are a number of firms who have updated their holdings in Depomed, Inc.
Levin Capital Strategies, L.p, bought 4,044 shares at the end of the quarter. This purchase increased its stake by 8.5%. For the reporting period, the value of the investment in Depomed, Inc has dropped from $856,000 to $647,000. This means that it decreased 24.4%. Additionally, Fny Partners Fund Lp got rid of 325 shares at the end of the quarter, thus shearing their holdings by 76.5%. It’s worth noting as well that the value in dollars changed 87.5% since the last quarter ($8,000 to $1,000). Last but not least, Tower Research Capital LLC dismantled its stake by selling 10 shares. Currently, Tower Research Capital LLC controls 400 shares worth $5,000.
According to a Piper Jaffray report, the DEPO stock went from a “Neutral” rating to an “Underweight” rating on December 12, 2016. On November 9, Depomed, Inc was changed to a “Hold” rating following a report from Mizuho. On November 8, the stock was downgraded from a “Buy” to a “Hold” by Cantor Fitzgerald.
Based on the latest earnings report, the earnings per share was $-1.54 and it is thought to be $0.62 for 2017 with 62,341,000 shares outstanding. Experts believe that next quarter’s earnings per share will be $0.21 and the 2018 EPS will be around $1.16.
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