Zacks: Brokerages Anticipate Depomed, Inc. (NYSE:ASRT) Will Post Quarterly Sales of $58.49 Million
Analysts expect Depomed, Inc. (NYSE:ASRT) to post $58.49 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Depomed’s earnings. The highest sales estimate is $60.38 million and the lowest is $56.60 million. Depomed reported sales of $63.27 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.6%. The firm is expected to issue its next earnings results on Wednesday, August 14th.
On average, analysts expect that Depomed will report full year sales of $235.28 million for the current financial year, with estimates ranging from $234.80 million to $236.04 million. For the next financial year, analysts forecast that the company will report sales of $243.62 million, with estimates ranging from $232.30 million to $251.00 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Depomed.
Depomed (NYSE:ASRT) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.05. The company had revenue of $57.93 million during the quarter, compared to the consensus estimate of $55.51 million.
In related news, Director Karen A. Dawes sold 12,500 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $3.18, for a total value of $39,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A hedge fund recently raised its stake in Depomed stock. BNP Paribas Arbitrage SA raised its position in shares of Depomed, Inc. (NYSE:ASRT) by 11,153.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,379 shares of the company’s stock after acquiring an additional 12,269 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Depomed were worth $63,000 as of its most recent SEC filing.
ASRT stock traded up $0.07 on Thursday, hitting $3.34. 460,053 shares of the company’s stock were exchanged, compared to its average volume of 828,093. Depomed has a 12-month low of $2.88 and a 12-month high of $9.48. The stock’s 50 day simple moving average is $3.18.
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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