Depomed (NYSE:ASRT) Shares Gap Up to $1.53
Depomed, Inc. (NYSE:ASRT) shares gapped up before the market opened on Thursday . The stock had previously closed at $1.65, but opened at $1.53. Depomed shares last traded at $1.49, with a volume of 27,598 shares traded.
Several equities analysts have recently issued reports on ASRT shares. Mizuho decreased their price target on shares of Depomed from $6.00 to $3.00 and set a “neutral” rating for the company in a report on Thursday, May 16th. Zacks Investment Research raised shares of Depomed from a “hold” rating to a “buy” rating and set a $1.75 price target for the company in a report on Tuesday, August 13th.
The firm’s fifty day moving average price is $2.68 and its 200-day moving average price is $3.74.
In related news, Director Arthur J. Higgins acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $1.54 per share, with a total value of $77,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 disclosure for this sale can be found here. Insiders bought a total of 112,000 shares of company stock valued at $174,320 in the last three months.
An institutional investor recently raised its position in Depomed stock. BNP Paribas Arbitrage SA boosted its stake in Depomed, Inc. (NYSE:ASRT) by 11,153.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,379 shares of the company’s stock after acquiring 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 (NYSE:ASRT)
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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