Depomed, Inc. (ASRT) Expected to Post Earnings of $0.18 Per Share
Brokerages forecast that Depomed, Inc. (NYSE:ASRT) will post earnings per share of $0.18 for the current quarter, according to Zacks. Two analysts have issued estimates for Depomed’s earnings, with estimates ranging from $0.17 to $0.19. Depomed reported earnings per share of $0.28 during the same quarter last year, which suggests a negative year-over-year growth rate of 35.7%. The company is scheduled to issue its next earnings results on Thursday, May 9th.
According to Zacks, analysts expect that Depomed will report full-year earnings of $0.78 per share for the current financial year, with EPS estimates ranging from $0.65 to $0.86. For the next year, analysts expect that the business will report earnings of $0.92 per share, with EPS estimates ranging from $0.86 to $0.97. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Depomed.
Depomed (NYSE:ASRT) last issued its earnings results on Wednesday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.10. The business had revenue of $62.80 million during the quarter, compared to the consensus estimate of $60.94 million. The firm’s revenue for the quarter was down 33.5% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS.
Shares of NYSE ASRT traded down $0.15 during mid-day trading on Monday, hitting $4.72. The company’s stock had a trading volume of 874,500 shares, compared to its average volume of 817,961. Depomed has a one year low of $3.37 and a one year high of $9.48.
In other news, Director Arthur J. Higgins purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $4.17 per share, for a total transaction of $41,700.00. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Daniel A. Peisert purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $4.18 per share, for a total transaction of $25,080.00. The disclosure for this purchase can be found here. Insiders bought a total of 21,000 shares of company stock worth $87,430 in the last ninety days.
A hedge fund recently raised its stake in Depomed stock. Public Employees Retirement System of Ohio lifted its position in Depomed, Inc. (NYSE:ASRT) by 62.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,709 shares of the company’s stock after acquiring an additional 21,412 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.09% of Depomed worth $201,000 at the end of the most recent quarter.
Assertio Therapeutics, 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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