Analysts Set Expectations for Depomed Inc.’s FY2016 Earnings (DEPO)
Depomed Inc. (NASDAQ:DEPO) – Research analysts at Roth Capital cut their FY2016 earnings estimates for Depomed in a note issued to investors on Tuesday. Roth Capital analyst S. Henry now expects that the firm will post earnings per share of ($0.76) for the year, down from their previous estimate of ($0.50). Roth Capital has a “Buy” rating and a $28.00 price target on the stock. Roth Capital also issued estimates for Depomed’s Q4 2016 earnings at ($0.02) EPS, Q2 2017 earnings at $0.04 EPS and FY2017 earnings at $0.26 EPS.
Other research analysts have also issued reports about the stock. Janney Montgomery Scott reiterated a “buy” rating and issued a $28.00 price objective on shares of Depomed in a research note on Thursday, August 4th. Mizuho reiterated a “buy” rating and issued a $23.00 price objective on shares of Depomed in a research note on Thursday, August 4th. Cantor Fitzgerald reiterated a “buy” rating and issued a $26.00 price objective on shares of Depomed in a research note on Thursday, July 28th. Finally, Leerink Swann reiterated a “buy” rating on shares of Depomed in a research note on Sunday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $23.06.
Shares of Depomed (NASDAQ:DEPO) opened at 20.84 on Friday. The firm’s 50-day moving average price is $23.55 and its 200 day moving average price is $20.81. Depomed has a 1-year low of $12.25 and a 1-year high of $27.02. The company’s market capitalization is $1.28 billion.
Depomed (NASDAQ:DEPO) last released its earnings results on Monday, November 7th. The specialty pharmaceutical company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.07. Depomed had a negative return on equity of 7.49% and a negative net margin of 16.93%. The business had revenue of $111 million for the quarter, compared to the consensus estimate of $127.22 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Depomed by 197.5% in the second quarter. BlackRock Inc. now owns 5,137 shares of the specialty pharmaceutical company’s stock valued at $101,000 after buying an additional 3,410 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Depomed during the third quarter valued at $120,000. PineBridge Investments L.P. increased its stake in Depomed by 4.1% in the second quarter. PineBridge Investments L.P. now owns 7,748 shares of the specialty pharmaceutical company’s stock valued at $152,000 after buying an additional 306 shares in the last quarter. DIAM Co. Ltd. acquired a new stake in Depomed during the second quarter valued at $157,000. Finally, Teacher Retirement System of Texas increased its stake in Depomed by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 8,482 shares of the specialty pharmaceutical company’s stock valued at $166,000 after buying an additional 1,024 shares in the last quarter.
In other Depomed news, VP Thadd M. Vargas sold 11,250 shares of the business’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $25.00, for a total value of $281,250.00. Following the completion of the sale, the vice president now directly owns 73,086 shares of the company’s stock, valued at $1,827,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.12% of the stock is currently owned by company insiders.
Depomed Company Profile
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