Depomed (NYSE:ASRT) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Depomed (NYSE:ASRT) from a strong-buy rating to a hold rating in a research note released on Tuesday morning, 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 lowered their price objective on Depomed from $6.00 to $3.00 and set a neutral rating for the company in a research report on Thursday, May 16th.

Shares of NYSE:ASRT opened at $3.12 on Tuesday. Depomed has a 1 year low of $2.88 and a 1 year high of $9.48. The stock’s 50-day simple moving average is $3.20.

Depomed (NYSE:ASRT) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.22) EPS for the quarter, topping the Zacks’ 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, Director Karen A. Dawes sold 12,500 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was 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 this link.

An institutional investor recently raised its position in Depomed stock. BNP Paribas Arbitrage SA boosted its holdings in Depomed, Inc. (NYSE:ASRT) by 11,153.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,379 shares of the company’s stock after purchasing 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 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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