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Depomed, Inc. (DEPO) develops 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; Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults; and Lazanda (fentanyl) nasal spray, an intranasal fentanyl drug used to manage breakthrough pain in adults.
The company is involved in the clinical development of IW-3718 refractory gastroesophageal reflux disease program using Acuform drug delivery technology.
Depomed, Inc. sells its Gralise products to wholesalers and retail pharmacies. The company also has a portfolio of royalty and milestone producing license agreements based on its proprietary Acuform gastroretentive drug delivery technology with Mallinckrodt Inc.; Ironwood Pharmaceuticals, Inc.; and Janssen Pharmaceuticals, Inc.
The Company is scheduled to report its quartrly results today (May 11th) after the close. The estimates call for a profit of a penny per share on revenue of $33.8M. The firm has beat its estimates in the past six quarters, ad we expect to do that this time too.
Shares are heading higher in an upward trading channel. The formation is supported by the stock's 50-day moving average (shown in red). Shares are currently at the lower boundary of the said channel. Higher share prices are expected for this stock.
52-Weeks Trading Range: $9.85 - $28.16
Entry Point: $23.80
Stop Loss: $22.61
Target Price: $26.18
DEPO closed at $21.00 after it fell below the stop loss.
