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

Zacks Investment Research cut 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 cut 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.

Depomed stock opened at $3.12 on Tuesday. Depomed has a 12 month low of $2.88 and a 12 month high of $9.48. The business’s 50 day moving average is $3.20.

Depomed (NYSE:ASRT) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.05. The business 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 stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $3.18, for a total value of $39,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

An institutional investor recently raised its position in Depomed stock. Public Employees Retirement System of Ohio boosted its holdings in Depomed, Inc. (NYSE:ASRT) by 62.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,709 shares of the company’s stock after acquiring an additional 21,412 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.09% of Depomed worth $201,000 as of its most recent filing with the 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.

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