Mizuho Trims Depomed (ASRT) Target Price to $3.00

Depomed (NYSE:ASRT) had its price objective cut by Mizuho from $6.00 to $3.00 in a research note issued to investors on Thursday morning, The Fly reports. They currently have a neutral rating on the stock.

Separately, Zacks Investment Research upgraded Depomed from a hold rating to a buy rating and set a $4.75 target price on the stock in a report on Tuesday, May 14th.

Shares of Depomed stock opened at $3.43 on Thursday. Depomed has a 1-year low of $3.37 and a 1-year high of $9.48.

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

In other news, CFO Daniel A. Peisert purchased 6,000 shares of Depomed stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $4.18 per share, with a total value of $25,080.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William Mckee sold 12,500 shares of Depomed stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $4.70, for a total transaction of $58,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 21,000 shares of company stock worth $87,430.

An institutional investor recently raised its position in Depomed stock. BNP Paribas Arbitrage SA increased its position in shares of Depomed, Inc. (NYSE:ASRT) by 11,153.6% during the 1st quarter, according to the company in its most recent 13F filing with the 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 at the end of the most recent reporting period.

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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