Depomed (DEPO) Issues Quarterly Earnings Results, Beats Estimates By $0.16 EPS


Depomed (NASDAQ:DEPO) released its earnings results on Thursday. The specialty pharmaceutical company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.16, Bloomberg Earnings reports. The firm had revenue of $128.40 million during the quarter, compared to analyst estimates of $65.77 million. Depomed had a negative return on equity of 45.19% and a negative net margin of 26.92%. The business’s quarterly revenue was up 41.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 earnings per share.


NASDAQ:DEPO traded up $1.39 on Thursday, hitting $7.35. 298,135 shares of the stock were exchanged, compared to its average volume of 1,272,580. The firm has a market capitalization of $386.18 million, a PE ratio of -5.75 and a beta of 1.22. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.74 and a quick ratio of 0.70. Depomed has a fifty-two week low of $6.40 and a fifty-two week high of $7.47.

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In other Depomed news, SVP Matthew M. Gosling sold 45,519 shares of the company’s stock in a transaction dated 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 is available through this link. Corporate insiders own 2.27% of the company’s stock.


Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in shares of Depomed in the fourth quarter valued at about $127,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Depomed in the fourth quarter valued at about $131,000. ClariVest Asset Management LLC acquired a new stake in shares of Depomed in the first quarter valued at about $108,000. MANA Advisors LLC acquired a new stake in shares of Depomed in the fourth quarter valued at about $148,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Depomed in the fourth quarter valued at about $155,000. Institutional investors and hedge funds own 91.66% of the company’s stock.


Several equities analysts recently commented on the company. Piper Jaffray reiterated a “hold” rating and issued a $8.00 target price on shares of Depomed in a research note on Thursday, March 1st. BidaskClub upgraded Depomed from a “sell” rating to a “hold” rating in a research note on Wednesday, February 21st. Roth Capital set a $10.00 price target on Depomed and gave the stock a “buy” rating in a research note on Friday, March 2nd. ValuEngine lowered Depomed from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Mizuho restated a “buy” rating and set a $9.00 price target on shares of Depomed in a research note on Friday, March 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $8.75.


About Depomed

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.

Earnings History for Depomed (NASDAQ:DEPO)

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