Depomed Inc (DEPO) Releases Earnings Results, Misses Expectations By $-0.06 EPS

Depomed Inc (DEPO) reported quarterly earnings results on Thursday, May-5-2016. The company reported $0.12 earnings per share for the quarter, missing the analyst consensus estimate by $-0.06. Analysts had a consensus of $0.18. The company posted revenue of $104.60 million in the period, compared to analysts expectations of $106.88 million. The company’s revenue was up 230.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.13 EPS.

Many Wall Street Analysts have commented on Depomed Inc. Company shares were Reiterated by Mizuho on Apr 11, 2016 to “Neutral”, Firm has raised the Price Target to $ 18 from a previous price target of $14 .Depomed Inc was Initiated by Northland Capital to “Outperform” on Mar 24, 2016. Shares were Reiterated by Mizuho on Mar 24, 2016 to “Neutral” and Lowered the Price Target to $ 14 from a previous price target of $16 .

Depomed Inc closed down -0.26 points or -1.55% at $16.54 with 22,46,349 shares getting traded on Wednesday. Post opening the session at $16.55, the shares hit an intraday low of $16.01 and an intraday high of $16.77 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 11, 2016, Thadd M Vargas (Senior VP, BD) sold 23,000 shares at $16.00 per share price. According to the SEC, on Dec 3, 2015, August J Moretti (Chief Financial Officer & SVP) sold 15,000 shares at $18.07 per share price.

Depomed Inc. is a specialty pharmaceutical company focused on pain and other central nervous system (CNS) conditions. The Company’s products include Gralise (gabapentin) CAMBIA (diclofenac potassium for oral solution) Zipsor (diclofenac potassium) and Lazanda (fentanyl). Gralise is a once-daily product for the management of postherpetic neuralgia (PHN). CAMBIA is a non-steroidal anti-inflammatory drug (NSAID) for the acute treatment of migraine attacks. Zipsor a liquid filled capsule is a NSAID for the treatment of mild to moderate acute pain. Lazanda nasal spray is used for the management of break through pain in cancer patients 18 years of age and older who are already receiving and who are tolerant to opioid therapy for their underlying persistent cancer pain. It also has a portfolio of license agreements based on its Acuform gastroretentive drug delivery technology. The Company’s product DM-1992 has completed a Phase II trial for Parkinson’s disease.

Depomed Inc

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