Depomed, Inc. (DEPO) Expected to Post Earnings of -$0.32 Per Share
Brokerages predict that Depomed, Inc. (NASDAQ:DEPO) will post earnings per share (EPS) of ($0.32) for the current quarter, according to Zacks. Two analysts have made estimates for Depomed’s earnings. The lowest EPS estimate is ($0.53) and the highest is ($0.12). Depomed reported earnings of ($0.21) per share during the same quarter last year, which indicates a negative year over year growth rate of 52.4%. The company is scheduled to issue its next earnings results on Monday, November 6th.
On average, analysts expect that Depomed will report full year earnings of ($1.28) per share for the current year, with EPS estimates ranging from ($1.52) to ($1.04). For the next year, analysts expect that the business will post earnings of ($0.52) per share, with EPS estimates ranging from ($0.83) to ($0.21). Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Depomed.
Depomed (NASDAQ:DEPO) last released its quarterly earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.52. Depomed had a negative return on equity of 45.03% and a negative net margin of 26.02%. The firm had revenue of $100 million during the quarter, compared to analysts’ expectations of $100.40 million. During the same period in the prior year, the firm posted $0.27 earnings per share. Depomed’s revenue for the quarter was down 14.3% compared to the same quarter last year.
DEPO has been the topic of a number of research reports. TheStreet lowered shares of Depomed from a “c-” rating to a “d+” rating in a report on Thursday, April 27th. Royal Bank Of Canada restated a “hold” rating and issued a $13.00 price objective on shares of Depomed in a report on Tuesday, June 13th. Cantor Fitzgerald set a $14.00 price objective on shares of Depomed and gave the company a “hold” rating in a report on Monday, May 15th. Piper Jaffray Companies upgraded shares of Depomed from an “underweight” rating to a “neutral” rating and reduced their price objective for the company from $11.00 to $10.00 in a report on Wednesday, May 10th. Finally, Janney Montgomery Scott lowered shares of Depomed from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $8.00 in a report on Tuesday, August 8th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $14.59.
Depomed (NASDAQ:DEPO) traded up 0.81% during trading on Wednesday, reaching $6.20. 126,717 shares of the company’s stock traded hands. The company has a 50 day moving average price of $9.78 and a 200-day moving average price of $12.36. Depomed has a 12-month low of $5.88 and a 12-month high of $27.02. The company’s market cap is $390.53 million.
In related news, insider Arthur J. Higgins purchased 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were purchased at an average cost of $9.92 per share, for a total transaction of $148,800.00. The purchase was disclosed in a document filed with the SEC, which is available through this link. 2.59% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Depomed during the fourth quarter valued at approximately $13,075,000. Creative Planning raised its stake in shares of Depomed by 0.5% in the first quarter. Creative Planning now owns 40,245 shares of the specialty pharmaceutical company’s stock valued at $505,000 after buying an additional 185 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Depomed by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the specialty pharmaceutical company’s stock valued at $318,000 after buying an additional 500 shares in the last quarter. Perkins Capital Management Inc. raised its stake in shares of Depomed by 3.7% in the first quarter. Perkins Capital Management Inc. now owns 75,667 shares of the specialty pharmaceutical company’s stock valued at $950,000 after buying an additional 2,667 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Depomed during the first quarter valued at approximately $494,000. Hedge funds and other institutional investors own 92.78% of the company’s stock.
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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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