Analyst Price Target Update on Depomed (NASDAQ:DEPO)

Depomed (NASDAQ:DEPO): 11 analysts have set the short term price target of Depomed (NASDAQ:DEPO) at $24.18. The standard deviation of short term price target has been estimated at $5.4, implying that the actual price may fluctuate by this value. The higher and the lower price estimates are $ 36 and $14 respectively.

Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Mizuho Securities, upgrades their rating on the shares of Depomed (NASDAQ:DEPO). Mizuho Securities has a Buy rating on the shares. Previously, the analysts had a Neutral rating on the shares. As per the latest research report, the brokerage house raises the price target to $19 per share from a prior target of $18. The rating by the firm was issued on May 9, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, The officer (Senior VP, BD), of Depomed Inc, Vargas Thadd M had unloaded 15,000 shares at $20 per share in a transaction on May 23, 2016. The total value of transaction was $300,000. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Depomed (NASDAQ:DEPO) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.25 points or 1.26% at $19.57 with 826,263 shares getting traded. Post opening the session at $19.62, the shares hit an intraday low of $19.46 and an intraday high of $20.16 and the price was in this range throughout the day. The company has a market cap of $1,196 million and the number of outstanding shares have been calculated to be 61,097,929 shares. The 52-week high of Depomed (NASDAQ:DEPO) is $33.74 and the 52-week low is $12.25.

Depomed, Inc. is a specialty pharmaceutical company focused on pain and other central nervous system (CNS) conditions. The Companys 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 Companys product DM-1992 has completed a Phase II trial for Parkinsons disease.

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