Zacks: Analysts Expect Depomed, Inc. (NYSE:ASRT) to Post $0.14 EPS

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Analysts expect Depomed, Inc. (NYSE:ASRT) to post earnings of $0.14 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Depomed’s earnings. Depomed reported earnings of $0.30 per share during the same quarter last year, which indicates a negative year over year growth rate of 53.3%. The business is scheduled to announce its next quarterly earnings report on Wednesday, March 4th.

According to Zacks, analysts expect that Depomed will report full year earnings of $0.83 per share for the current year. For the next financial year, analysts forecast that the firm will report earnings of $0.70 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Depomed.

Depomed (NYSE:ASRT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.26. The business had revenue of $55.15 million during the quarter, compared to analysts’ expectations of $59.26 million.

Separately, Zacks Investment Research raised Depomed from a “hold” rating to a “strong-buy” rating and set a $0.75 price target on the stock in a report on Tuesday, December 10th.

Shares of NYSE:ASRT remained flat at $$1.16 on Tuesday. The company’s stock had a trading volume of 1,794,593 shares, compared to its average volume of 2,230,988. The firm’s 50-day moving average price is $1.05 and its 200-day moving average price is $1.58. Depomed has a 1 year low of $0.68 and a 1 year high of $5.76.

A hedge fund recently raised its stake in Depomed stock. Public Employees Retirement System of Ohio lifted its position in shares of Depomed, Inc. (NYSE:ASRT) by 57.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,059 shares of the company’s stock after buying an additional 46,300 shares during the period. Public Employees Retirement System of Ohio owned about 0.20% of Depomed worth $438,000 as of its most recent SEC filing.

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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