Brokerages Anticipate Depomed, Inc. (DEPO) Will Announce Quarterly Sales of $92.77 Million
Equities research analysts expect that Depomed, Inc. (NASDAQ:DEPO) will announce $92.77 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Depomed’s earnings, with the highest sales estimate coming in at $93.59 million and the lowest estimate coming in at $91.95 million. Depomed posted sales of $123.91 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 25.1%. The company is scheduled to issue its next earnings results on Tuesday, February 20th.
On average, analysts expect that Depomed will report full-year sales of $92.77 million for the current year, with estimates ranging from $378.27 million to $402.90 million. For the next year, analysts anticipate that the business will post sales of $399.61 million per share, with estimates ranging from $374.96 million to $423.80 million. Zacks’ sales averages are an average based on a survey of research firms that cover Depomed.
Depomed (NASDAQ:DEPO) last announced its earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. Depomed had a negative net margin of 27.73% and a negative return on equity of 51.07%. The firm had revenue of $95.40 million for the quarter, compared to analyst estimates of $99.11 million. During the same quarter last year, the business earned $0.28 earnings per share. Depomed’s revenue was down 13.7% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of the business. GSA Capital Partners LLP raised its stake in Depomed by 133.5% during the third quarter. GSA Capital Partners LLP now owns 158,300 shares of the specialty pharmaceutical company’s stock worth $917,000 after purchasing an additional 90,500 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Depomed during the third quarter worth approximately $245,000. Engineers Gate Manager LP purchased a new position in Depomed during the third quarter worth approximately $812,000. OxFORD Asset Management LLP raised its stake in Depomed by 22.8% during the third quarter. OxFORD Asset Management LLP now owns 470,451 shares of the specialty pharmaceutical company’s stock worth $2,764,000 after purchasing an additional 87,332 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in Depomed by 5.7% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 295,800 shares of the specialty pharmaceutical company’s stock worth $1,713,000 after purchasing an additional 16,000 shares during the period. 90.52% of the stock is currently owned by institutional investors.
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Shares of Depomed (NASDAQ:DEPO) opened at $6.16 on Tuesday. Depomed has a 1 year low of $4.31 and a 1 year 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.
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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