Piper Jaffray Keeps a Hold Rating on Depomed

By Austin Angelo

Piper Jaffray analyst David Amsellem reiterated a Hold rating on Depomed (NASDAQ: DEPO) on December 5 and set a price target of $9. The company’s shares closed yesterday at $8.11.

According to TipRanks.com, Amsellem is a 2-star analyst with an average return of 0.1% and a 48.4% success rate. Amsellem covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Amphastar Pharmaceuticals.

Depomed has an analyst consensus of Moderate Buy, with a price target consensus of $8.25.

Based on Depomed’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $95.41 million and GAAP net loss of $15.99 million. In comparison, last year the company earned revenue of $111 million and had a GAAP net loss of $12.89 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DEPO in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Depomed, Inc. is a pharmaceutical company, which manufactures and distributes pharmaceutical products to treat pain and other central nervous system conditions. Its brands include Gralise, Zipsor, Lazanda, Cambia, NUCYNTA ER and NUCYNTA. The company was founded by John W. Shell on August 7, 1995 and is headquartered in Newark, CA.