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Downgrade Alert for Depomed (DEPO)

By Amy Schwartz

Depomed (NASDAQ:DEPO) was downgraded from Buy to Neutral at UBS today. The stock closed yesterday at $18.76 on volume of 2.7 million shares, above average daily volume of 2.2 million.

In the past 52 weeks, Depomed share prices have been bracketed by a low of $12.25 and a high of $33.74 and closed yesterday at $18.76, 53% above that low price. The 200-day and 50-day moving averages have moved 1.57% lower and 0.23% lower over the past week, respectively.

Potential upside of 55.5% exists for Depomed, based on a current level of $18.76 and analysts' average consensus price target of $29.17. The stock should find resistance at its 200-day moving average (MA) of $19.87, as well as support at its 50-day MA of $15.49.

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.

SmarTrend is monitoring the recent change of momentum in Depomed. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Depomed in search of a potential trend change.

Keywords: analyst upgrades/downgrades DepoMed

Ticker(s): DEPO