NEW YORK ( TheStreet) -- Shares of Depomed (Nasdaq: DEPO) were gapping down Friday morning with an open price 28.2% lower than Thursday's closing price. The stock closed at $6.28 Thursday and opened today's trading at $4.51. The average volume for Depomed has been 852,600 shares per day over the past 30 days. Depomed has a market cap of $335.5 million and is part of the health care sector and drugs industry. Shares are down 1.3% year to date as of the close of trading on Thursday. Depomed, Inc., a specialty pharmaceutical company, develops and commercializes pharmaceutical products based on its proprietary oral drug delivery technologies in the United States. The company has a P/E ratio of 3.5, equal to the average drugs industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Depomed as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and reasonable valuation levels. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive. You can view the full Depomed Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.