Depomed, Inc. (NASDAQ:DEPO) issued its quarterly earnings data on Monday. 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, Morningstar.com reports. The company had revenue of $100 million during the quarter, compared to analyst estimates of $100.40 million. Depomed had a negative net margin of 21.41% and a negative return on equity of 25.33%. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS.

Shares of Depomed (NASDAQ:DEPO) traded down 28.7096% during trading on Tuesday, hitting $6.5801. The company had a trading volume of 3,968,110 shares. Depomed has a 52-week low of $6.58 and a 52-week high of $27.02. The stock’s 50-day moving average is $10.55 and its 200 day moving average is $13.10. The firm’s market capitalization is $410.21 million.

Several brokerages have recently issued reports on DEPO. Janney Montgomery Scott reissued a “buy” rating and issued a $26.00 price objective on shares of Depomed in a report on Tuesday, April 11th. TheStreet cut Depomed from a “c-” rating to a “d+” rating in a report on Thursday, April 27th. Cantor Fitzgerald set a $14.00 price objective on Depomed and gave the company a “hold” rating in a report on Monday, May 15th. Royal Bank Of Canada decreased their price objective on Depomed from $19.00 to $13.00 and set a “sector perform” rating for the company in a report on Wednesday, May 10th. Finally, Piper Jaffray Companies raised Depomed from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $11.00 to $10.00 in a report on Wednesday, May 10th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $17.44.

WARNING: This news story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/07/depomed-inc-depo-posts-earnings-results-misses-estimates-by-0-01-eps.html.

In other news, insider Arthur J. Higgins acquired 15,000 shares of Depomed stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average price of $9.92 per share, for a total transaction of $148,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.59% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Depomed during the fourth quarter worth approximately $13,075,000. Creative Planning increased 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 worth $505,000 after buying an additional 185 shares during the last quarter. Louisiana State Employees Retirement System increased 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 worth $318,000 after buying an additional 500 shares during the last quarter. Perkins Capital Management Inc. increased 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 worth $950,000 after buying an additional 2,667 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Depomed during the first quarter worth approximately $494,000. Hedge funds and other institutional investors own 91.42% of the company’s stock.

About Depomed

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).

Earnings History for Depomed (NASDAQ:DEPO)

Receive News & Ratings for Depomed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Depomed Inc. and related companies with MarketBeat.com's FREE daily email newsletter.