Simplex Trading adds Depomed Inc (DEPO) to its portfolio

Depomed Inc (DEPO) : Simplex Trading added new position in Depomed Inc during the most recent quarter end. The investment management firm now holds 55,288 shares of Depomed Inc which is valued at $1,393,258 , the company said in a statement filed on Oct 7, 2016 with the SEC.Depomed Inc makes up approximately 0.18% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in DEPO by selling 10,139 shares or 50.3% in the most recent quarter. The Hedge Fund company now holds 10,017 shares of DEPO which is valued at $260,542.Franklin Street Advisors Inc Nc reduced its stake in DEPO by selling 49,750 shares or 71.07% in the most recent quarter. The Hedge Fund company now holds 20,250 shares of DEPO which is valued at $526,703. Depomed Inc makes up approx 0.10% of Franklin Street Advisors Inc Nc’s portfolio.

Depomed Inc closed down -0.27 points or -1.06% at $25.2 with 7,64,093 shares getting traded on Friday. Post opening the session at $25.42, the shares hit an intraday low of $24.745 and an intraday high of $25.58 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Depomed Inc reported $0.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.26. The company had revenue of $116.70 million for the quarter, compared to analysts expectations of $118.48 million. The company’s revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Depomed Inc. Mizuho Downgraded Depomed Inc on Oct 4, 2016 to ” Neutral”, Price Target of the shares are set at $27.Company shares were Reiterated by Mizuho on Sep 19, 2016 to “Buy”, Firm has raised the Price Target to $ 27 from a previous price target of $23 .Depomed Inc was Downgraded by Piper Jaffray to ” Neutral” on Jul 27, 2016.

Depomed Inc. is a specialty pharmaceutical company focused on pain and other central nervous system (CNS) 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.

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