Mizuho Lowers Depomed (ASRT) Price Target to $3.00

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

Separately, Zacks Investment Research raised shares of Depomed from a hold rating to a buy rating and set a $4.75 price target on the stock in a research report on Tuesday.

Shares of NYSE ASRT traded down $0.02 during mid-day trading on Thursday, reaching $3.53. 21,170 shares of the company were exchanged, compared to its average volume of 844,515. Depomed has a twelve month low of $3.37 and a twelve month high of $9.48.

Depomed (NYSE:ASRT) last posted its earnings results on Wednesday, March 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. The company had revenue of $62.80 million for the quarter, compared to analyst estimates of $60.94 million. During the same quarter in the prior year, the business posted $0.15 EPS. The business’s quarterly revenue was down 33.5% compared to the same quarter last year.

In other news, Director Arthur J. Higgins bought 10,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $4.17 per share, with a total value of $41,700.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William Mckee sold 12,500 shares of the firm’s stock in a transaction dated 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. Over the last three months, insiders acquired 21,000 shares of company stock worth $87,430.

An institutional investor recently raised its position in Depomed stock. BNP Paribas Arbitrage SA grew its stake in Depomed, Inc. (NYSE:ASRT) by 11,153.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,379 shares of the company’s stock after purchasing an additional 12,269 shares during the period. BNP Paribas Arbitrage SA’s holdings in Depomed were worth $63,000 as of its most recent filing with the Securities and Exchange Commission.

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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