Cantor Fitzgerald reiterated their buy rating on shares of Depomed Inc (NASDAQ:DEPO) in a report published on Wednesday morning, AnalystRatings.Net reports. The brokerage currently has a $29.00 target price on the specialty pharmaceutical company’s stock.

DEPO has been the subject of a number of other research reports. WallachBeth Capital raised shares of Depomed from a hold rating to a buy rating and set a $33.00 price objective for the company in a report on Wednesday, November 11th. They noted that the move was a valuation call. Roth Capital lifted their price objective on shares of Depomed from $21.00 to $24.00 and gave the company a buy rating in a report on Wednesday, November 11th. Janney Montgomery Scott reaffirmed a buy rating on shares of Depomed in a report on Wednesday, November 18th. RBC Capital cut their price objective on shares of Depomed from $32.00 to $26.00 and set a sector perform rating for the company in a report on Wednesday, October 21st. Finally, Morgan Stanley initiated coverage on shares of Depomed in a report on Thursday, December 3rd. They issued an equal weight rating and a $21.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Depomed currently has an average rating of Buy and a consensus target price of $27.63.

Depomed (NASDAQ:DEPO) traded down 5.52% during trading on Wednesday, hitting $15.74. The stock had a trading volume of 1,375,429 shares. The stock has a market cap of $951.97 million and a price-to-earnings ratio of 19.24. The firm has a 50 day moving average of $17.32 and a 200-day moving average of $22.69. Depomed has a 12 month low of $13.27 and a 12 month high of $33.74.

Depomed (NASDAQ:DEPO) last posted its earnings results on Monday, November 9th. The specialty pharmaceutical company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.14. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The business had revenue of $105 million for the quarter, compared to analyst estimates of $101.64 million. The company’s revenue for the quarter was up 103.7% on a year-over-year basis. Equities analysts predict that Depomed will post $0.79 earnings per share for the current year.

In other news, CFO August J. Moretti sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 3rd. The shares were sold at an average price of $18.11, for a total transaction of $271,650.00. Following the completion of the sale, the chief financial officer now owns 21,319 shares of the company’s stock, valued at $386,087.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of hedge funds have made changes to their positions in DEPO. Capstone Asset Management Company boosted its stake in shares of Depomed by 7.9% in the fourth quarter. Capstone Asset Management Company now owns 27,270 shares of the specialty pharmaceutical company’s stock valued at $494,000 after buying an additional 1,990 shares in the last quarter. Harvest Management acquired a new stake in shares of Depomed during the third quarter valued at about $737,000. Simplex Trading boosted its stake in shares of Depomed by 1,188.4% in the fourth quarter. Simplex Trading now owns 43,046 shares of the specialty pharmaceutical company’s stock valued at $780,000 after buying an additional 39,705 shares in the last quarter. Water Island Capital acquired a new stake in shares of Depomed during the third quarter valued at about $1,885,000. Finally, Mackay Shields boosted its stake in shares of Depomed by 139.1% in the fourth quarter. Mackay Shields now owns 16,709,000 shares of the specialty pharmaceutical company’s stock valued at $19,038,000 after buying an additional 9,722,000 shares in the last quarter.

Depomed, Inc. is a specialty pharmaceutical company focused on pain and other central nervous system (NASDAQ:DEPO) 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.

12 Month Chart for NASDAQ:DEPO

Frustrated with your broker? Are you tired of paying high fees? Do you feel like you are getting ripped off by your stock broker? It's time for a change. Find out which brokerage is best for your personal trading style at the InvestorPlace Broker Center. Compare brokers at a glance in the InvestorPlace Broker Center (Click Here).

Receive News & Ratings for Depomed Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Depomed Inc and related companies with MarketBeat.com's FREE daily email newsletter.