Wall Street brokerages forecast that Depomed, Inc. (NASDAQ:DEPO) will announce sales of $98.92 million for the current quarter, Zacks reports. Two analysts have issued estimates for Depomed’s earnings, with the highest sales estimate coming in at $100.25 million and the lowest estimate coming in at $97.60 million. Depomed posted sales of $110.52 million in the same quarter last year, which suggests a negative year-over-year growth rate of 10.5%. The firm is expected to report its next earnings report after the market closes on Tuesday, November 7th.

According to Zacks, analysts expect that Depomed will report full year sales of $98.92 million for the current financial year, with estimates ranging from $369.45 million to $402.90 million. For the next fiscal year, analysts expect that the company will post sales of $414.84 million per share, with estimates ranging from $385.85 million to $435.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Depomed.

Depomed (NASDAQ:DEPO) last issued its quarterly earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.52). The company had revenue of $100.00 million during the quarter, compared to analysts’ expectations of $100.40 million. Depomed had a negative return on equity of 45.03% and a negative net margin of 26.02%. The company’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 EPS.

Several equities analysts have weighed in on the company. Royal Bank Of Canada set a $8.00 target price on Depomed and gave the company a “hold” rating in a research note on Friday, October 27th. Piper Jaffray Companies set a $9.00 target price on Depomed and gave the company a “hold” rating in a research note on Sunday, October 15th. Mizuho reaffirmed a “neutral” rating and set a $6.00 target price (down previously from $11.00) on shares of Depomed in a research note on Friday, October 13th. ValuEngine cut Depomed from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 28th. Finally, Morgan Stanley cut Depomed from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $12.00 to $5.00 in a research note on Tuesday, August 8th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $12.74.

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Several institutional investors have recently made changes to their positions in DEPO. Prudential Financial Inc. lifted its holdings in shares of Depomed by 1.0% during the 1st quarter. Prudential Financial Inc. now owns 105,386 shares of the specialty pharmaceutical company’s stock valued at $1,323,000 after buying an additional 1,080 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Depomed by 46.9% during the 1st quarter. OppenheimerFunds Inc. now owns 22,203 shares of the specialty pharmaceutical company’s stock valued at $279,000 after buying an additional 7,087 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Depomed by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 473,727 shares of the specialty pharmaceutical company’s stock valued at $5,945,000 after buying an additional 20,451 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Depomed by 1.8% during the 1st quarter. Teachers Advisors LLC now owns 157,112 shares of the specialty pharmaceutical company’s stock valued at $1,972,000 after buying an additional 2,778 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Depomed by 0.7% during the 1st quarter. Legal & General Group Plc now owns 110,642 shares of the specialty pharmaceutical company’s stock valued at $1,390,000 after buying an additional 761 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Shares of Depomed (NASDAQ DEPO) traded down $0.19 on Wednesday, reaching $4.98. The company had a trading volume of 1,645,240 shares, compared to its average volume of 1,392,887. Depomed has a 1 year low of $4.31 and a 1 year high of $23.29. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.75 and a current ratio of 0.79.

About Depomed

Depomed, Inc is a specialty pharmaceutical company. The Company focuses on pain and other central nervous system (CNS) conditions. Its products include NUCYNTA ER (tapentadol extended release tablets), NUCYNTA IR (NUCYNTA) (tapentadol), Gralise (gabapentin), CAMBIA (diclofenac potassium for oral solution), Zipsor (diclofenac potassium) and Lazanda (fentanyl).

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Earnings History and Estimates for Depomed (NASDAQ:DEPO)

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