Zacks Investment Research Lowers Depomed (NYSE:ASRT) to Hold

Zacks Investment Research downgraded shares of Depomed (NYSE:ASRT) from a buy rating to a hold rating in a research report released on Monday, Zacks.com reports.

According to Zacks, “Assertio Therapeutics, Inc. is a pharmaceutical company. It develops and markets a product for the treatment in neurology, orphan and diseases of the central nervous system. Assertio Therapeutics, Inc., formerly known as Depomed Inc., is headquartered in Lake Forest, Illinois. “

Separately, Mizuho cut their price target on shares of Depomed from $6.00 to $3.00 and set a neutral rating on the stock in a research note on Thursday, May 16th.

Shares of ASRT opened at $3.43 on Monday. Depomed has a 12-month low of $2.86 and a 12-month high of $9.48. The firm has a 50-day moving average of $3.20.

Depomed (NYSE:ASRT) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.05. The company had revenue of $57.93 million during the quarter, compared to analysts’ expectations of $55.51 million.

In other Depomed news, Director Karen A. Dawes sold 12,500 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $3.18, for a total transaction of $39,750.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

An institutional investor recently raised its position in Depomed stock. BNP Paribas Arbitrage SA grew its holdings in shares of Depomed, Inc. (NYSE:ASRT) by 11,153.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,379 shares of the company’s stock after purchasing an additional 12,269 shares during the period. BNP Paribas Arbitrage SA’s holdings in Depomed were worth $63,000 as of its most recent SEC filing.

Depomed Company Profile

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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