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

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

On average, analysts expect that Depomed will report full-year earnings of $0.83 per share for the current fiscal year. For the next year, analysts expect that the firm will post earnings of $0.70 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Depomed.

Depomed (NYSE:ASRT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.26. The company had revenue of $55.15 million during the quarter, compared to the consensus estimate 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 objective for the company in a research note on Tuesday, December 10th.

A hedge fund recently raised its stake in Depomed stock. Public Employees Retirement System of Ohio lifted its holdings in Depomed, Inc. (NYSE:ASRT) by 57.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 127,059 shares of the company’s stock after buying an additional 46,300 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.20% of Depomed worth $438,000 at the end of the most recent quarter.

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

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.

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