Trade Report: Today, Alps Advisors Inc. Sold shares of Depomed Inc. (DEPO)

Today, Alps Advisors Inc. Sold shares of Depomed Inc. (DEPO)

Alps Advisors Inc. decreased its stake in shares of Depomed Inc. (NASDAQ:DEPO) by 8.9% during the third quarter, Holdings Channel reports. The fund owned 78,232 shares of the specialty pharmaceutical company’s stock after selling 7,598 shares during the period. Alps Advisors Inc. owned 0.13% of Depomed worth $1,955,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Depomed by 197.5% in the second quarter. BlackRock Inc. now owns 5,137 shares of the specialty pharmaceutical company’s stock worth $101,000 after buying an additional 3,410 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Depomed during the third quarter worth $120,000. PineBridge Investments L.P. raised its stake in shares of Depomed by 4.1% in the second quarter. PineBridge Investments L.P. now owns 7,748 shares of the specialty pharmaceutical company’s stock worth $152,000 after buying an additional 306 shares during the last quarter. DIAM Co. Ltd. acquired a new stake in shares of Depomed during the second quarter worth $157,000. Finally, Teacher Retirement System of Texas raised its stake in shares of Depomed by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 8,482 shares of the specialty pharmaceutical company’s stock worth $166,000 after buying an additional 1,024 shares during the last quarter.

Shares of Depomed Inc. (NASDAQ:DEPO) traded up 0.34% on Friday, reaching $20.39. 285,429 shares of the company’s stock were exchanged. The company’s 50 day moving average is $22.42 and its 200-day moving average is $21.07. Depomed Inc. has a one year low of $12.25 and a one year high of $27.02. The stock’s market cap is $1.26 billion.

Depomed (NASDAQ:DEPO) last announced its quarterly earnings data on Monday, November 7th. The specialty pharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.07. Depomed had a negative net margin of 16.93% and a negative return on equity of 7.49%. The company had revenue of $111 million for the quarter, compared to analysts’ expectations of $127.22 million. During the same period last year, the business earned $0.33 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Depomed Inc. will post $1.04 EPS for the current year.

A number of equities research analysts have recently weighed in on DEPO shares. Janney Montgomery Scott restated a “buy” rating and issued a $28.00 price objective on shares of Depomed in a report on Wednesday, September 28th. Mizuho lowered shares of Depomed from a “buy” rating to a “neutral” rating in a report on Tuesday, October 4th. RBC Capital Markets restated a “sector perform” rating and issued a $22.00 price objective on shares of Depomed in a report on Friday, September 23rd. Roth Capital set a $28.00 price objective on shares of Depomed and gave the stock a “buy” rating in a report on Friday, October 21st. Finally, Piper Jaffray Cos. restated a “neutral” rating and issued a $19.00 price objective (up from $18.00) on shares of Depomed in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.06.

In related news, VP Thadd M. Vargas sold 11,250 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $25.00, for a total value of $281,250.00. Following the completion of the transaction, the vice president now directly owns 73,086 shares of the company’s stock, valued at $1,827,150. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO August J. Moretti sold 5,000 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $20.84, for a total transaction of $104,200.00. Following the completion of the transaction, the chief financial officer now directly owns 26,680 shares of the company’s stock, valued at $556,011.20. The disclosure for this sale can be found here. Company insiders own 5.12% of the company’s stock.

Depomed Company Profile

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