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Depomed Shares Sinking Lower, Down 1.4%

Published on Thu, 03/14/2013 - 12:45
By Robert Cotter

Depomed (NASDAQ:DEPO) is one of today's notable stocks in decline, down 1.4% to $5.79. The Dow Jones Industrial Average is now trading 0.4% higher to 14,518 and the S&P is trading 0.4% higher to 1,561.

DepoMed, Inc. develops new and proprietary oral drug delivery technologies. The Company has developed a system designed to be retained in the stomach for an extended period of time while it delivers the incorporated drug or drugs. DepoMed has also developed a system designed to reduce gastrointestinal irritation.

Depomed share prices have moved between a 52-week high of $10.19 and a 52-week low of $4.20 and are now trading 38% above that low price at $5.79 per share. The 200-day and 50-day moving averages have moved 0.20% higher and 0.02% lower over the past week, respectively.

Depomed (NASDAQ:DEPO) has potential upside of 51.3% based on a current price of $5.79 and analysts' consensus price target of $8.75. The stock should find initial resistance at its 200-day moving average (MA) of $5.82 and further resistance at its 50-day MA of $6.43.

By Robert Cotter
rcotter@fnno.com