Auriga Reiterates a 'Buy' on DepoMed (DEPO); Q1 Beats...Taking Proactive Approach
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Price: $7.30 --0%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Auriga reiterates a 'Buy' on DepoMed Inc (NASDAQ: DEPO) price target of $8.00.
Analyst, Difei Yang, said, "Q1 results beat consensus on both revenue and EPS. Gralise launch is on track and we like that the management is taking a proactive approach to re-allocate resources and increase promotion on Gralise (no near-term generic threat is expected on Gralise). The shares appear undervalued at current prices. Q1 results beat consensus on both revenue and EPS. Q1 revenue was $16.8 million vs. consensus of $12.9 million. EPS was ($0.16) vs. consensus of ($0.24). The better than expected first quarter revenue is due largely to stronger royalty income on Glumetza and licensing revenue from Acuform technology. Expenses were in line with expectations. Gralise launch met expectations so far. Gralise product sales for the quarter were 1.75 million, and the most recent weekly prescriptions were over 2,000 for the week ended April 27. Total prescriptions increased by over 40% from February 2012 to March 2012."
For an analyst ratings summary and ratings history on DepoMed Inc click here. For more ratings news on DepoMed Inc click here.
Shares of DepoMed Inc closed at $5.71 yesterday.
Analyst, Difei Yang, said, "Q1 results beat consensus on both revenue and EPS. Gralise launch is on track and we like that the management is taking a proactive approach to re-allocate resources and increase promotion on Gralise (no near-term generic threat is expected on Gralise). The shares appear undervalued at current prices. Q1 results beat consensus on both revenue and EPS. Q1 revenue was $16.8 million vs. consensus of $12.9 million. EPS was ($0.16) vs. consensus of ($0.24). The better than expected first quarter revenue is due largely to stronger royalty income on Glumetza and licensing revenue from Acuform technology. Expenses were in line with expectations. Gralise launch met expectations so far. Gralise product sales for the quarter were 1.75 million, and the most recent weekly prescriptions were over 2,000 for the week ended April 27. Total prescriptions increased by over 40% from February 2012 to March 2012."
For an analyst ratings summary and ratings history on DepoMed Inc click here. For more ratings news on DepoMed Inc click here.
Shares of DepoMed Inc closed at $5.71 yesterday.
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