Depomed Inc(NASDAQ:DEPO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $116.68M. Analysts estimated a revenue of $118.92M. Earnings per share were $0.27. Analysts had estimated an EPS of $0.26.
In a different note, On Jul 27, 2016, PiperJaffray said it Downgrades its rating on Depomed Inc. The shares have been rated ‘Neutral’ by the firm. On Jul 7, 2016, UBS said it Downgrades its rating on Depomed Inc. The shares have been rated ‘Neutral’ by the firm. On May 9, 2016, Mizuho Securities said it Upgrades its rating on Depomed Inc. In the research note, the firm Raises the price-target to $18.00 per share. The shares have been rated ‘Buy’ by the firm.
Depomed Inc (DEPO) remained unchanged at the close of Friday session. Even as the volume increased to 7,39,139 ,the shares failed to make any impression and ended at 0 points or 0.00% at $21.48. The trading session commenced at $21.52 and the stock hit a high of $21.69 and touched $21.18 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $32.22 and the 52-week low is $12.25. The company has a market cap of $1,318 M and has approximately 6,13,66,053 outstanding shares.
Several Insider Transactions has been reported to the SEC. On May 25, 2016, Thadd M Vargas (Senior VP, BD) sold 15,000 shares at $20.00 per share price.Also, 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.