Equities research analysts expect Depomed (NASDAQ:DEPO) to announce sales of $62.48 million for the current quarter, Zacks reports. Three analysts have provided estimates for Depomed’s earnings, with the lowest sales estimate coming in at $61.20 million and the highest estimate coming in at $65.00 million. Depomed reported sales of $90.45 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 30.9%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, May 10th.
According to Zacks, analysts expect that Depomed will report full year sales of $264.48 million for the current fiscal year, with estimates ranging from $247.45 million to $289.00 million. For the next financial year, analysts anticipate that the business will report sales of $269.03 million per share, with estimates ranging from $246.11 million to $291.00 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Depomed.
Depomed (NASDAQ:DEPO) last issued its quarterly earnings data on Thursday, May 10th. The specialty pharmaceutical company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.11. Depomed had a negative return on equity of 45.19% and a negative net margin of 26.92%. The business had revenue of $128.40 million for the quarter, compared to analysts’ expectations of $65.77 million. During the same period last year, the business earned $0.07 EPS. The business’s revenue was up 41.9% on a year-over-year basis.
Several brokerages have weighed in on DEPO. BidaskClub cut Depomed from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. ValuEngine cut Depomed from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Piper Jaffray restated a “hold” rating and set a $8.00 price objective on shares of Depomed in a research note on Thursday, March 1st. Roth Capital set a $10.00 price objective on Depomed and gave the company a “buy” rating in a research note on Friday, March 2nd. Finally, Mizuho restated a “buy” rating and set a $9.00 price objective on shares of Depomed in a research note on Friday, March 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $8.75.
In other news, SVP Matthew M. Gosling sold 45,519 shares of the firm’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.27% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of Depomed during the 4th quarter valued at $127,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Depomed during the 4th quarter valued at $131,000. ClariVest Asset Management LLC purchased a new stake in shares of Depomed during the 1st quarter valued at $108,000. MANA Advisors LLC purchased a new stake in shares of Depomed during the 4th quarter valued at $148,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Depomed during the 4th quarter valued at $155,000. 91.66% of the stock is owned by hedge funds and other institutional investors.
Shares of Depomed opened at $7.33 on Friday, MarketBeat reports. The company has a current ratio of 0.74, a quick ratio of 0.70 and a debt-to-equity ratio of 3.21. Depomed has a 1-year low of $6.40 and a 1-year high of $7.47. The firm has a market cap of $386.18 million, a price-to-earnings ratio of -5.83 and a beta of 1.22.
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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