Depomed (NYSE:ASRT) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Depomed (NYSE:ASRT) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. They currently have $1.75 price objective on the stock.

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 lowered their price target on shares of Depomed from $6.00 to $3.00 and set a neutral rating for the company in a research note on Thursday, May 16th.

Depomed stock opened at $1.62 on Tuesday. The firm has a fifty day simple moving average of $2.91 and a two-hundred day simple moving average of $3.81. Depomed has a twelve month low of $1.49 and a twelve month high of $7.60.

In other news, Director Karen A. Dawes sold 12,500 shares of the company’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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel A. Peisert acquired 19,000 shares of the stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $1.57 per share, with a total value of $29,830.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 73,000 shares of company stock valued at $113,070.

An institutional investor recently raised its position in Depomed stock. BNP Paribas Arbitrage SA lifted its stake in shares of Depomed, Inc. (NYSE:ASRT) by 11,153.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,379 shares of the company’s stock after buying an additional 12,269 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Depomed were worth $63,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.

Further Reading: The Discount Rate – What You Need to Know

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