Teacher Retirement System of Texas Acquires Shares of 19,231 Depomed (DEPO)

Teacher Retirement System of Texas acquired a new position in shares of Depomed (NASDAQ:DEPO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,231 shares of the specialty pharmaceutical company’s stock, valued at approximately $155,000.

Several other large investors also recently bought and sold shares of the company. Alps Advisors Inc. increased its holdings in shares of Depomed by 12.5% during the 4th quarter. Alps Advisors Inc. now owns 69,769 shares of the specialty pharmaceutical company’s stock worth $562,000 after purchasing an additional 7,762 shares during the period. Aperio Group LLC increased its holdings in shares of Depomed by 71.9% during the 4th quarter. Aperio Group LLC now owns 27,087 shares of the specialty pharmaceutical company’s stock worth $218,000 after purchasing an additional 11,334 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Depomed by 71.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 32,251 shares of the specialty pharmaceutical company’s stock worth $187,000 after purchasing an additional 13,388 shares during the period. Prudential Financial Inc. increased its holdings in shares of Depomed by 13.0% during the 3rd quarter. Prudential Financial Inc. now owns 117,116 shares of the specialty pharmaceutical company’s stock worth $678,000 after purchasing an additional 13,470 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Depomed by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,321,109 shares of the specialty pharmaceutical company’s stock worth $13,439,000 after purchasing an additional 14,791 shares during the period. Institutional investors own 91.22% of the company’s stock.

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Shares of Depomed stock opened at $6.59 on Friday. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.70 and a current ratio of 0.74. Depomed has a twelve month low of $4.31 and a twelve month high of $14.21.

Depomed (NASDAQ:DEPO) last issued its earnings results on Tuesday, February 27th. The specialty pharmaceutical company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. Depomed had a negative net margin of 26.92% and a negative return on equity of 45.19%. The business had revenue of $94.41 million for the quarter, compared to analyst estimates of $88.75 million. analysts expect that Depomed will post -1.03 earnings per share for the current year.

In other news, SVP Matthew M. Gosling sold 45,519 shares of Depomed stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $6.58, for a total transaction of $299,515.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.59% of the stock is currently owned by insiders.

DEPO has been the topic of several research reports. Mizuho upgraded shares of Depomed from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Tuesday, December 5th. Roth Capital set a $10.00 price objective on shares of Depomed and gave the stock a “buy” rating in a report on Friday, March 2nd. Piper Jaffray restated a “hold” rating and set a $8.00 price objective on shares of Depomed in a report on Thursday, March 1st. BidaskClub upgraded shares of Depomed from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada set a $9.00 price objective on shares of Depomed and gave the stock a “hold” rating in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Depomed presently has an average rating of “Hold” and an average price target of $8.75.

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Depomed Company Profile

Depomed, Inc, a specialty pharmaceutical company, engages in the development, sale, and licensing of products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the management of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; and Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults.

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Institutional Ownership by Quarter for Depomed (NASDAQ:DEPO)

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