Zacks: Analysts Expect Depomed, Inc. (ASRT) to Post $0.18 EPS

Wall Street brokerages forecast that Depomed, Inc. (NYSE:ASRT) will post earnings per share of $0.18 for the current quarter, according to Zacks. Two analysts have made estimates for Depomed’s earnings. The highest EPS estimate is $0.19 and the lowest is $0.17. Depomed posted earnings per share of $0.28 in the same quarter last year, which suggests a negative year-over-year growth rate of 35.7%. The company is scheduled to announce its next quarterly earnings results on Thursday, May 9th.

On average, analysts expect that Depomed will report full-year earnings of $0.78 per share for the current fiscal year, with EPS estimates ranging from $0.65 to $0.86. For the next financial year, analysts expect that the firm will report earnings of $0.92 per share, with EPS estimates ranging from $0.86 to $0.97. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Depomed.

Depomed (NYSE:ASRT) last posted its earnings results on Wednesday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.10. The business had revenue of $62.80 million during the quarter, compared to analyst estimates of $60.94 million. Depomed’s revenue was down 33.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share.

A number of analysts have issued reports on ASRT shares. Zacks Investment Research upgraded shares of Depomed from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research note on Monday, January 14th. Mizuho reiterated a “hold” rating and issued a $6.00 target price on shares of Depomed in a research note on Friday, January 11th.

In other news, Director Arthur J. Higgins acquired 10,000 shares of Depomed stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $4.17 per share, for a total transaction of $41,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel A. Peisert acquired 6,000 shares of Depomed stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $4.18 per share, with a total value of $25,080.00. The disclosure for this purchase can be found here. Insiders bought 21,000 shares of company stock valued at $87,430 over the last 90 days.

An institutional investor recently raised its position in Depomed stock. Public Employees Retirement System of Ohio lifted its position in Depomed, Inc. (NYSE:ASRT) by 62.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,709 shares of the company’s stock after buying an additional 21,412 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.09% of Depomed worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

NYSE ASRT traded down $0.15 during trading on Monday, reaching $4.72. The company’s stock had a trading volume of 874,500 shares, compared to its average volume of 817,961. Depomed has a 1-year low of $3.37 and a 1-year high of $9.48.

Depomed Company Profile

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.

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