Depomed (NYSE:ASRT) Trading 4.3% Higher

Depomed, Inc. (NYSE:ASRT)’s share price traded up 4.3% during mid-day trading on Tuesday . The stock traded as high as $3.40 and last traded at $3.52, 345,105 shares changed hands during trading. A decline of 58% from the average session volume of 813,529 shares. The stock had previously closed at $3.37.

Several research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Goosehead Insurance from a “buy” rating to a “hold” rating in a report on Monday. Mizuho lowered their price target on shares of Depomed from $6.00 to $3.00 and set a “neutral” rating for the company in a report on Thursday, May 16th.

The business has a fifty day moving average of $3.19.

Depomed (NYSE:ASRT) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.05. The firm had revenue of $57.93 million for the quarter, compared to the consensus estimate of $55.51 million.

In other Depomed news, Director Karen A. Dawes sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $3.18, for a total transaction of $39,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

A hedge fund recently raised its stake in Depomed stock. Public Employees Retirement System of Ohio grew its holdings in shares of Depomed, Inc. (NYSE:ASRT) by 62.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,709 shares of the company’s stock after purchasing an additional 21,412 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.09% of Depomed worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

About Depomed (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.

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