Depomed Inc (DEPO) Expected to Announce Quarterly Sales of $92.77 Million
Wall Street brokerages forecast that Depomed Inc (NASDAQ:DEPO) will post sales of $92.77 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Depomed’s earnings. The lowest sales estimate is $91.95 million and the highest is $93.59 million. Depomed reported sales of $123.91 million during the same quarter last year, which indicates a negative year-over-year growth rate of 25.1%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 20th.
On average, analysts expect that Depomed will report full year sales of $92.77 million for the current financial year, with estimates ranging from $378.27 million to $402.90 million. For the next financial year, analysts expect that the company will post sales of $371.96 million per share, with estimates ranging from $289.00 million to $423.80 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Depomed.
Depomed (NASDAQ:DEPO) last issued its quarterly earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Depomed had a negative return on equity of 51.07% and a negative net margin of 27.73%. The firm had revenue of $95.40 million for the quarter, compared to analyst estimates of $99.11 million. During the same period in the previous year, the firm earned $0.28 earnings per share. The company’s revenue was down 13.7% compared to the same quarter last year.
Several research firms have issued reports on DEPO. BidaskClub raised Depomed from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Piper Jaffray Companies set a $9.00 price target on shares of Depomed and gave the stock a “hold” rating in a research note on Sunday, October 15th. Mizuho restated a “neutral” rating and issued a $6.00 price target (down previously from $11.00) on shares of Depomed in a research note on Friday, October 13th. ValuEngine upgraded shares of Depomed from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 5th. Finally, UBS Group boosted their price target on shares of Depomed from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $11.64.
Depomed (DEPO) traded up $0.05 during trading hours on Wednesday, reaching $8.63. The company’s stock had a trading volume of 713,700 shares, compared to its average volume of 1,646,879. Depomed has a twelve month low of $4.31 and a twelve month high of $21.38. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.90. The company has a market capitalization of $540.66, a price-to-earnings ratio of -4.72 and a beta of 1.30.
In other news, insider Arthur J. Higgins bought 75,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was purchased at an average price of $8.16 per share, for a total transaction of $612,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.59% of the company’s stock.
Several hedge funds have recently modified their holdings of DEPO. Piedmont Investment Advisors LLC acquired a new stake in Depomed in the second quarter valued at approximately $145,000. Captrust Financial Advisors acquired a new stake in shares of Depomed in the second quarter worth $147,000. Municipal Employees Retirement System of Michigan lifted its stake in shares of Depomed by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,660 shares of the specialty pharmaceutical company’s stock worth $157,000 after buying an additional 590 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Depomed in the second quarter worth $214,000. Finally, Federated Investors Inc. PA bought a new position in Depomed during the second quarter worth $283,000. Hedge funds and other institutional investors own 90.76% of the company’s stock.
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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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