Analysts Expect Depomed Inc (DEPO) Will Post Earnings of $0.09 Per Share

Equities research analysts predict that Depomed Inc (NASDAQ:DEPO) will post earnings of $0.09 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Depomed’s earnings. The highest EPS estimate is $0.11 and the lowest is $0.02. Depomed reported earnings per share of $0.48 in the same quarter last year, which would suggest a negative year-over-year growth rate of 81.3%. The business is expected to announce its next earnings results on Tuesday, February 20th.

On average, analysts expect that Depomed will report full year earnings of $0.38 per share for the current financial year, with EPS estimates ranging from $0.34 to $0.40. For the next financial year, analysts anticipate that the company will report earnings of $0.53 per share, with EPS estimates ranging from $0.41 to $0.60. Zacks’ EPS calculations are an average based on a survey of analysts that follow Depomed.

Several equities research analysts have recently commented on the stock. Mizuho raised shares of Depomed from a “neutral” rating to a “buy” rating and set a $9.00 price target for the company in a research report on Tuesday, December 5th. Morgan Stanley raised shares of Depomed from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 9th. Royal Bank of Canada set a $9.00 price target on shares of Depomed and gave the company a “hold” rating in a research report on Thursday, December 7th. Piper Jaffray Companies reissued a “hold” rating and issued a $9.00 target price on shares of Depomed in a report on Thursday, December 7th. Finally, BidaskClub raised shares of Depomed from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Depomed currently has a consensus rating of “Hold” and a consensus price target of $11.64.

Shares of Depomed (NASDAQ DEPO) traded up $0.08 during trading hours on Tuesday, reaching $6.75. The company’s stock had a trading volume of 1,070,527 shares, compared to its average volume of 1,055,689. Depomed has a fifty-two week low of $4.31 and a fifty-two week high of $17.86. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.90. The stock has a market cap of $425.34, a price-to-earnings ratio of -3.69 and a beta of 1.07.

In other news, insider Arthur J. Higgins bought 75,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was purchased at an average cost of $8.16 per share, for a total transaction of $612,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.59% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors boosted its position in shares of Depomed by 1.5% during the 2nd quarter. Nationwide Fund Advisors now owns 35,938 shares of the specialty pharmaceutical company’s stock valued at $386,000 after acquiring an additional 533 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Depomed by 0.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 333,508 shares of the specialty pharmaceutical company’s stock valued at $3,581,000 after acquiring an additional 2,056 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Depomed by 7.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 37,590 shares of the specialty pharmaceutical company’s stock valued at $404,000 after acquiring an additional 2,630 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Depomed by 10.4% during the 2nd quarter. Voya Investment Management LLC now owns 29,495 shares of the specialty pharmaceutical company’s stock valued at $317,000 after acquiring an additional 2,790 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Depomed by 10.6% during the 4th quarter. Alliancebernstein L.P. now owns 79,006 shares of the specialty pharmaceutical company’s stock valued at $636,000 after acquiring an additional 7,560 shares during the last quarter. Hedge funds and other institutional investors own 88.98% 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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