Shares of Depomed, Inc. (NYSE:ASRT) dropped 5.3% during trading on Wednesday . The stock traded as low as $4.69 and last traded at $4.86. Approximately 607,699 shares changed hands during trading, a decline of 46% from the average daily volume of 1,123,309 shares. The stock had previously closed at $5.13.
ASRT has been the topic of several research analyst reports. Zacks Investment Research upgraded Depomed from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a report on Tuesday, October 23rd. Roth Capital restated a “buy” rating on shares of Depomed in a report on Tuesday, August 21st. Finally, Janney Montgomery Scott cut Depomed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 29th.
Depomed (NYSE:ASRT) last announced its earnings results on Wednesday, August 8th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.03). The firm had revenue of $63.27 million during the quarter, compared to the consensus estimate of $63.60 million.
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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