Depomed (ASRT) Trading 7.1% Higher After Better-Than-Expected Earnings

Depomed, Inc. (NYSE:ASRT) traded up 7.1% on Friday following a better than expected earnings announcement. The company traded as high as $5.64 and last traded at $5.43. 1,326,818 shares traded hands during mid-day trading, an increase of 19% from the average session volume of 1,112,025 shares. The stock had previously closed at $5.07.

The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.53. The business had revenue of $81.20 million for the quarter, compared to analysts’ expectations of $76.45 million. During the same period last year, the business earned $0.14 EPS. The company’s revenue for the quarter was down 14.9% on a year-over-year basis.

Several research firms recently commented on ASRT. Zacks Investment Research lowered shares of Depomed from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Janney Montgomery Scott lowered shares of Depomed from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 29th. Finally, Roth Capital restated a “buy” rating on shares of Depomed in a research report on Tuesday, August 21st.

TRADEMARK VIOLATION NOTICE: “Depomed (ASRT) Trading 7.1% Higher After Better-Than-Expected Earnings” was first posted by WKRB News and is the sole property of of WKRB News. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be accessed at https://www.wkrb13.com/2018/11/10/depomed-asrt-trading-7-1-higher-after-better-than-expected-earnings.html.

Depomed Company Profile (NYSE:ASRT)

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.

See Also: Trading Penny Stocks

Receive News & Ratings for Depomed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Depomed and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply