Brokerages forecast that Depomed (NASDAQ:DEPO) will post earnings of $0.17 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Depomed’s earnings, with the lowest EPS estimate coming in at $0.14 and the highest estimate coming in at $0.18. Depomed posted earnings of $0.08 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 112.5%. The firm is scheduled to report its next earnings report on Monday, August 6th.
According to Zacks, analysts expect that Depomed will report full year earnings of $0.71 per share for the current year, with EPS estimates ranging from $0.59 to $0.81. For the next year, analysts forecast that the firm will report earnings of $0.83 per share, with EPS estimates ranging from $0.68 to $1.00. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Depomed.
Depomed (NASDAQ:DEPO) last posted its quarterly earnings results on Thursday, May 10th. The specialty pharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.69. The business had revenue of $128.40 million for the quarter, compared to analyst estimates of $65.77 million. Depomed had a negative net margin of 10.02% and a negative return on equity of 15.74%. The firm’s revenue for the quarter was up 41.9% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS.
Several research firms recently issued reports on DEPO. BidaskClub upgraded shares of Depomed from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 15th. ValuEngine lowered shares of Depomed from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Mizuho reiterated a “buy” rating and set a $9.00 price target on shares of Depomed in a research report on Friday, March 23rd. Piper Jaffray reiterated a “hold” rating and set a $8.00 price target on shares of Depomed in a research report on Thursday, March 1st. Finally, Roth Capital set a $10.00 price target on shares of Depomed and gave the stock a “buy” rating in a research report on Friday, March 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $8.00.
In other Depomed news, SVP Matthew M. Gosling sold 45,519 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $6.58, for a total value of $299,515.02. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.27% of the company’s stock.
A number of institutional investors have recently modified their holdings of DEPO. Renaissance Technologies LLC boosted its position in Depomed by 167.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,723,400 shares of the specialty pharmaceutical company’s stock valued at $21,923,000 after buying an additional 1,704,200 shares in the last quarter. Prudential Financial Inc. boosted its position in Depomed by 1,063.0% in the first quarter. Prudential Financial Inc. now owns 1,187,594 shares of the specialty pharmaceutical company’s stock valued at $7,826,000 after buying an additional 1,085,478 shares in the last quarter. Millennium Management LLC boosted its position in Depomed by 47.1% in the fourth quarter. Millennium Management LLC now owns 1,904,663 shares of the specialty pharmaceutical company’s stock valued at $15,333,000 after buying an additional 609,948 shares in the last quarter. Opaleye Management Inc. acquired a new stake in Depomed in the first quarter valued at approximately $3,954,000. Finally, Dimensional Fund Advisors LP boosted its position in Depomed by 16.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,307,181 shares of the specialty pharmaceutical company’s stock valued at $21,794,000 after buying an additional 464,234 shares in the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.
Shares of Depomed traded up $0.16, hitting $7.52, during trading hours on Wednesday, according to MarketBeat. 101,742 shares of the stock were exchanged, compared to its average volume of 1,254,762. The company has a current ratio of 0.75, a quick ratio of 0.73 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $461.64 million, a price-to-earnings ratio of -5.95 and a beta of 1.22. Depomed has a 1-year low of $7.43 and a 1-year high of $7.53.
Depomed Company Profile
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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