Analysts forecast that Depomed Inc (NASDAQ:DEPO) will report $0.17 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Depomed’s earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.14. Depomed reported earnings per share of $0.08 during the same quarter last year, which suggests a positive year-over-year growth rate of 112.5%. The firm is scheduled to report its next quarterly earnings results on Monday, August 6th.
On average, analysts expect that Depomed will report full year earnings of $0.71 per share for the current financial year, with EPS estimates ranging from $0.59 to $0.81. For the next financial year, analysts forecast that the firm will post earnings of $0.83 per share, with EPS estimates ranging from $0.68 to $1.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Depomed.
Depomed (NASDAQ:DEPO) last posted its quarterly earnings data on Thursday, May 10th. The specialty pharmaceutical company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.69. The firm had revenue of $128.40 million during the quarter, compared to analysts’ expectations of $65.77 million. Depomed had a negative return on equity of 15.74% and a negative net margin of 10.02%. The business’s quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS.
Several equities analysts have recently issued reports on DEPO shares. Roth Capital set a $10.00 price target on Depomed and gave the company a “buy” rating in a research note on Friday, March 2nd. Piper Jaffray Companies restated a “hold” rating and issued a $8.00 price target on shares of Depomed in a research note on Thursday, March 1st. BidaskClub lowered Depomed from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 7th. Mizuho restated a “buy” rating and issued a $9.00 price target on shares of Depomed in a research note on Friday, March 23rd. Finally, ValuEngine lowered Depomed from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.00.
In other news, SVP Matthew M. Gosling sold 45,519 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $6.58, for a total transaction of $299,515.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.27% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DEPO. Dimensional Fund Advisors LP lifted its holdings in Depomed by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,321,109 shares of the specialty pharmaceutical company’s stock valued at $13,439,000 after acquiring an additional 14,791 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in Depomed during the fourth quarter worth $288,000. Schwab Charles Investment Management Inc. lifted its stake in Depomed by 12.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 420,873 shares of the specialty pharmaceutical company’s stock worth $3,389,000 after purchasing an additional 46,745 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Depomed during the fourth quarter worth $2,858,000. Finally, Aperio Group LLC lifted its stake in Depomed by 71.9% during the fourth quarter. Aperio Group LLC now owns 27,087 shares of the specialty pharmaceutical company’s stock worth $218,000 after purchasing an additional 11,334 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.
Shares of Depomed traded down $0.40, hitting $6.34, on Friday, Marketbeat.com reports. The company had a trading volume of 841,349 shares, compared to its average volume of 1,841,848. The stock has a market cap of $428.58 million, a PE ratio of -5.03 and a beta of 1.22. The company has a quick ratio of 0.73, a current ratio of 0.75 and a debt-to-equity ratio of 2.55. Depomed has a twelve month low of $4.31 and a twelve month high of $11.27.
Depomed, Inc, a specialty pharmaceutical company, engages in the development, sale, and licensing of 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; and Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults.
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