Depomed, Inc. (NYSE:ASRT) Expected to Post Earnings of $0.22 Per Share

Analysts expect Depomed, Inc. (NYSE:ASRT) to post earnings of $0.22 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Depomed’s earnings, with estimates ranging from $0.21 to $0.25. Depomed posted earnings of $0.19 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.8%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Depomed will report full year earnings of $0.88 per share for the current financial year, with EPS estimates ranging from $0.87 to $0.90. For the next financial year, analysts anticipate that the company will post earnings of $0.95 per share, with EPS estimates ranging from $0.84 to $1.00. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Depomed.

Depomed (NYSE:ASRT) last issued its earnings results on Wednesday, May 8th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.05. The business had revenue of $57.93 million for the quarter, compared to analyst estimates of $55.51 million.

ASRT has been the topic of several recent research reports. Mizuho decreased their target price on shares of Depomed from $6.00 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th.

In related news, Director William Mckee sold 12,500 shares of Depomed stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $4.70, for a total transaction of $58,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

A hedge fund recently raised its stake in Depomed stock. BNP Paribas Arbitrage SA boosted its position in shares of Depomed, Inc. (NYSE:ASRT) by 11,153.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,379 shares of the company’s stock after acquiring an additional 12,269 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Depomed were worth $63,000 at the end of the most recent reporting period.

Shares of Depomed stock traded up $0.07 during trading on Tuesday, hitting $3.34. 460,053 shares of the company’s stock traded hands, compared to its average volume of 828,093. The business’s fifty day simple moving average is $3.18. Depomed has a twelve month low of $2.88 and a twelve month high of $9.48.

About Depomed

Assertio Therapeutics, 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.

Read More: Diluted Earnings Per Share

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