Depomed, Inc. (NYSE:ASRT) Director Sells $39,750.00 in Stock

Depomed, Inc. (NYSE:ASRT) Director Karen A. Dawes sold 12,500 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were 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 is available through this hyperlink.

Shares of NYSE:ASRT opened at $3.07 on Friday. Depomed, Inc. has a 52 week low of $2.88 and a 52 week high of $9.48.

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

A hedge fund recently raised its stake in Depomed stock. BNP Paribas Arbitrage SA grew its position in Depomed, Inc. (NYSE:ASRT) by 11,153.6% during the 1st quarter, according to its most recent 13F filing with the SEC. 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 SEC.

Several equities research analysts have recently commented on ASRT shares. Mizuho reduced their target price on shares of Depomed from $6.00 to $3.00 and set a “neutral” rating on the stock in a research note on Thursday, May 16th. Zacks Investment Research downgraded shares of Depomed from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 8th.

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About Depomed

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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