Depomed Inc (DEPO) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.27 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.26. The company posted revenue of $116.70 million in the period, compared to analysts expectations of $118.48 million. The company’s revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.
Many Wall Street Analysts have commented on Depomed Inc. Depomed Inc was Downgraded by Piper Jaffray to ” Neutral” on Jul 27, 2016. UBS Downgraded Depomed Inc on Jul 7, 2016 to ” Neutral”, Price Target of the shares are set at $20.Company shares were Reiterated by Mizuho on May 27, 2016 to “Buy”, Firm has raised the Price Target to $ 23 from a previous price target of $19 .
Depomed Inc closed down -0.06 points or -0.31% at $19.26 with 4,82,207 shares getting traded on Tusday. Post opening the session at $19.37, the shares hit an intraday low of $19.01 and an intraday high of $19.49 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on May 25, 2016, Thadd M Vargas (Senior VP, BD) sold 15,000 shares at $20.00 per share price. According to the SEC, on May 9, 2016, August J Moretti (Chief Financial Officer & SVP) sold 5,000 shares at $18.00 per share price.
Depomed Inc. is a specialty pharmaceutical company focused on pain and other central nervous system (CNS) conditions. The Companys 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 Companys product DM-1992 has completed a Phase II trial for Parkinson’s disease.