In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Depomed Inc. (NASDAQ:DEPO) reported that Starboard Value LP has picked up 5,490,000 of common stock as of 2017-03-30.
The acquisition brings the aggregate amount owned by Starboard Value LP to a total of 5,490,000 representing a 8.8% stake in the company.
For those not familiar with the company, Depomed, Inc. is a specialty pharmaceutical company. The Company focuses on pain and other central nervous system (CNS) conditions. Its products include NUCYNTA ER (tapentadol extended release tablets), NUCYNTA IR (NUCYNTA) (tapentadol), Gralise (gabapentin), CAMBIA (diclofenac potassium for oral solution), Zipsor (diclofenac potassium) and Lazanda (fentanyl). Its NUCYNTA ER (tapentadol extended release tablets) is a product for the management of pain severe enough to require daily long term opioid treatment, including neuropathic pain associated with diabetic peripheral neuropathy in adults, and its NUCYNTA (tapentadol) is a product for the management of moderate to severe acute pain in adults. Its Gralise (gabapentin) is a once-daily product for the management of postherpetic neuralgia. Its CAMBIA (diclofenac potassium for oral solution) is a product for the acute treatment of migraine attacks.
A glance at Depomed Inc. (NASDAQ:DEPO)’s key stats reveals a current market capitalization of 771.50 Million based on 62.10 Million shares outstanding and a price at last close of $12.82 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2013-05-10, Schoeneck picked up 25,000 at a purchase price of $5.11. This brings their total holding to 85,001 as of the date of the filing.
On the sell side, the most recent transaction saw Moretti unload 5,000 shares at a sale price of $20.84. This brings their total holding to 21,680.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Depomed Inc. (NASDAQ:DEPO) as things move forward to see if its progress aligns with these transactions.
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