Depomed (DEPO) : Traders are bullish on Depomed (DEPO) as it has outperformed the S&P 500 by a wide margin of 19.84% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 10.3%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 10.89% in the last 1 week, and is up 17.41% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 16.57% and the 50-Day Moving Average is 20.51%.The 200 Day SMA reached 35.61% Depomed, Inc. is up 25.59% in the last 3-month period. Year-to-Date the stock performance stands at 34.25%.
Depomed (DEPO) stock is expected to deviate a maximum of $5.65 from the average target price of $24.08 for the short term period. 12 Street Experts have initiated coverage on the stock with the most promising target being $36 and the most muted being $14.
For the current week, the company shares have a recommendation consensus of Buy. Depomed (NASDAQ:DEPO): The stock opened at $23.99 and touched an intraday high of $24.45 on Friday. During the day, the stock corrected to an intraday low of $22.66, however, the bulls stepped in and pushed the price higher to close in the green at $24.34 with a gain of 14.60% for the day. The total traded volume for the day was 8,542,433. The stock had closed at $24.34 in the previous trading session.
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.