Zacks Investment Research upgraded shares of Depomed (NYSE:ASRT) from a hold rating to a buy rating in a research report released on Tuesday, Zacks.com reports. The firm currently has $1.75 price target on the stock.
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 shares of Depomed from $6.00 to $3.00 and set a neutral rating on the stock in a research report on Thursday, May 16th.
In related news, Director Arthur J. Higgins acquired 50,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $1.54 per share, for a total transaction of $77,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel A. Peisert acquired 19,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $1.57 per share, for a total transaction of $29,830.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 73,000 shares of company stock worth $113,070.
An institutional investor recently raised its position in Depomed stock. BNP Paribas Arbitrage SA boosted its stake in shares of 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 firm 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 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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