Candriam Luxembourg S.C.A. reduced its holdings in Depomed Inc (NASDAQ:DEPO) by 24.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,528 shares of the specialty pharmaceutical company’s stock after selling 10,317 shares during the period. Candriam Luxembourg S.C.A. owned approximately 0.05% of Depomed worth $254,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas purchased a new position in Depomed during the fourth quarter worth about $155,000. Alps Advisors Inc. raised its stake in Depomed by 12.5% during the fourth quarter. Alps Advisors Inc. now owns 69,769 shares of the specialty pharmaceutical company’s stock worth $562,000 after purchasing an additional 7,762 shares during the period. Aperio Group LLC raised its stake in Depomed by 71.9% during the fourth quarter. Aperio Group LLC now owns 27,087 shares of the specialty pharmaceutical company’s stock worth $218,000 after purchasing an additional 11,334 shares during the period. Fox Run Management L.L.C. purchased a new position in Depomed during the fourth quarter worth about $460,000. Finally, Acadian Asset Management LLC purchased a new position in Depomed during the fourth quarter worth about $2,858,000. 92.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have commented on DEPO shares. Morgan Stanley raised shares of Depomed from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 9th. Royal Bank of Canada reduced their target price on shares of Depomed from $8.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 8th. Mizuho raised shares of Depomed from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Tuesday, December 5th. BidaskClub raised shares of Depomed from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 15th. Finally, ValuEngine downgraded shares of Depomed from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $10.27.
In related news, insider Arthur J. Higgins purchased 75,000 shares of Depomed stock in a transaction dated Thursday, December 14th. The shares were acquired at an average cost of $8.16 per share, with a total value of $612,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.59% of the stock is currently owned by insiders.
Shares of Depomed Inc (DEPO) opened at $7.55 on Friday. The stock has a market cap of $484.74, a P/E ratio of -4.13 and a beta of 1.07. Depomed Inc has a 52 week low of $4.31 and a 52 week high of $16.73. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.90.
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Depomed, Inc is a specialty pharmaceutical company. The Company focuses on pain and other central nervous system (CNS) conditions. Its products include NUCYNTA ER (tapentadol extended release tablets), NUCYNTA IR (NUCYNTA) (tapentadol), Gralise (gabapentin), CAMBIA (diclofenac potassium for oral solution), Zipsor (diclofenac potassium) and Lazanda (fentanyl).
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