Zacks Investment Research lowered shares of Depomed (NYSE:ASRT) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday, 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 shares of Depomed from $6.00 to $3.00 and set a neutral rating on the stock in a report on Thursday, May 16th.

NYSE ASRT opened at $3.08 on Tuesday. Depomed has a twelve month low of $2.88 and a twelve month high of $9.48. The business has a 50-day simple moving average of $3.21.

Depomed (NYSE:ASRT) last released its earnings results on Wednesday, May 8th. The company reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.05. The firm had revenue of $57.93 million during the quarter, compared to analysts’ expectations of $55.51 million.

In related news, Director Karen A. Dawes sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $3.18, for a total value of $39,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A hedge fund recently raised its stake in Depomed stock. BNP Paribas Arbitrage SA lifted its holdings in Depomed, Inc. (NYSE:ASRT) by 11,153.6% during the first quarter, according to the company in its most recent Form 13F filing 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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