Zacks: Brokerages Expect Depomed Inc (DEPO) Will Announce Earnings of $0.10 Per Share

Analysts expect Depomed Inc (NASDAQ:DEPO) to announce earnings of $0.10 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Depomed’s earnings, with the highest EPS estimate coming in at $0.11 and the lowest estimate coming in at $0.09. Depomed reported earnings per share of $0.48 in the same quarter last year, which suggests a negative year over year growth rate of 79.2%. The company is expected to report its next earnings results on Tuesday, February 20th.

On average, analysts expect that Depomed will report full-year earnings of $0.39 per share for the current year, with EPS estimates ranging from $0.37 to $0.40. For the next year, analysts forecast that the firm will post earnings of $0.52 per share, with EPS estimates ranging from $0.37 to $0.60. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Depomed.

Depomed (NASDAQ:DEPO) last posted its earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The company had revenue of $95.40 million during the quarter, compared to analysts’ expectations of $99.11 million. Depomed had a negative net margin of 27.73% and a negative return on equity of 51.07%. Depomed’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share.

Several equities analysts recently weighed in on the stock. Royal Bank of Canada set a $9.00 target price on shares of Depomed and gave the company a “hold” rating in a research note on Thursday, December 7th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $9.00 target price on shares of Depomed in a research note on Thursday, December 7th. BidaskClub raised shares of Depomed from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. ValuEngine raised shares of Depomed from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 5th. Finally, Mizuho raised shares of Depomed from a “neutral” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Tuesday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $11.64.

Depomed (NASDAQ DEPO) traded down $0.04 on Wednesday, reaching $8.24. 470,836 shares of the company traded hands, compared to its average volume of 1,005,714. The stock has a market capitalization of $516.33, a PE ratio of -4.50 and a beta of 1.29. Depomed has a 52 week low of $4.31 and a 52 week high of $19.29. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.90.

In other Depomed news, insider Arthur J. Higgins acquired 75,000 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was acquired at an average cost of $8.16 per share, with a total value of $612,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.59% of the company’s stock.

Several large investors have recently modified their holdings of the business. Nationwide Fund Advisors grew its stake in shares of Depomed by 1.5% in the 2nd quarter. Nationwide Fund Advisors now owns 35,938 shares of the specialty pharmaceutical company’s stock worth $386,000 after buying an additional 533 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Depomed by 0.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 333,508 shares of the specialty pharmaceutical company’s stock worth $3,581,000 after buying an additional 2,056 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in shares of Depomed by 7.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 37,590 shares of the specialty pharmaceutical company’s stock worth $404,000 after buying an additional 2,630 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Depomed by 10.4% in the 2nd quarter. Voya Investment Management LLC now owns 29,495 shares of the specialty pharmaceutical company’s stock worth $317,000 after acquiring an additional 2,790 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Depomed by 7.8% in the 2nd quarter. Legal & General Group Plc now owns 119,225 shares of the specialty pharmaceutical company’s stock worth $1,280,000 after acquiring an additional 8,583 shares during the last quarter. 90.76% of the stock is owned by institutional investors and hedge funds.

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Depomed Company Profile

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).

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