Wall Street brokerages forecast that Depomed Inc (NASDAQ:DEPO) will report $88.75 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Depomed’s earnings. The highest sales estimate is $91.95 million and the lowest is $85.55 million. Depomed reported sales of $123.91 million in the same quarter last year, which indicates a negative year over year growth rate of 28.4%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 20th.

On average, analysts expect that Depomed will report full-year sales of $88.75 million for the current year, with estimates ranging from $371.86 million to $382.90 million. For the next financial year, analysts anticipate that the firm will report sales of $299.14 million per share, with estimates ranging from $237.28 million to $400.07 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Depomed.

A number of research analysts have commented on DEPO shares. Morgan Stanley upgraded shares of Depomed from an “underweight” rating to an “equal weight” rating in a research report on Thursday, November 9th. Royal Bank of Canada reduced their price target on shares of Depomed from $8.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 8th. Mizuho upgraded shares of Depomed from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Tuesday, December 5th. BidaskClub cut shares of Depomed from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Finally, ValuEngine cut shares of Depomed from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.64.

Depomed (DEPO) opened at $6.97 on Thursday. Depomed has a 52-week low of $4.31 and a 52-week high of $17.86. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.79 and a current ratio of 0.83. The company has a market cap of $439.20, a P/E ratio of -3.81 and a beta of 1.07.

In other news, insider Arthur J. Higgins bought 75,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were purchased at an average price of $8.16 per share, for a total transaction of $612,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.59% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new position in shares of Depomed in the second quarter worth approximately $145,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Depomed in the fourth quarter worth approximately $131,000. MANA Advisors LLC bought a new stake in Depomed in the fourth quarter valued at $148,000. Teacher Retirement System of Texas bought a new stake in Depomed in the fourth quarter valued at $155,000. Finally, Aperio Group LLC boosted its holdings in Depomed by 71.9% in the fourth quarter. Aperio Group LLC now owns 27,087 shares of the specialty pharmaceutical company’s stock valued at $218,000 after acquiring an additional 11,334 shares in 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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