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

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Depomed, Inc. (NYSE:ASRT) Director Karen A. Dawes sold 12,500 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $3.18, for a total value of $39,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of ASRT stock traded down $0.25 on Friday, hitting $3.07. 425,300 shares of the stock were exchanged, compared to its average volume of 843,259. Depomed, Inc. has a fifty-two week low of $2.88 and a fifty-two week high of $9.48.

Depomed (NYSE:ASRT) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.05. The firm had revenue of $57.93 million for the quarter, compared to analyst estimates of $55.51 million.

Several research firms have recently weighed in on ASRT. Zacks Investment Research raised Depomed from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research report on Tuesday, May 14th. Mizuho reduced their price objective on Depomed from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th.

An institutional investor recently raised its position in Depomed stock. BNP Paribas Arbitrage SA lifted its position in shares of Depomed, Inc. (NYSE:ASRT) by 11,153.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,379 shares of the company’s stock after buying 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 quarter.

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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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