Depomed (NYSE:ASRT) Stock Price Down 27.4%

Depomed, Inc. (NYSE:ASRT)’s share price fell 27.4% during mid-day trading on Monday . The company traded as low as $1.16 and last traded at $0.85, 72,584 shares changed hands during trading. A decline of 93% from the average session volume of 1,017,705 shares. The stock had previously closed at $1.17.

Separately, Zacks Investment Research cut Depomed from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th.

The business has a fifty day simple moving average of $1.28 and a 200-day simple moving average of $2.82.

Depomed (NYSE:ASRT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The business had revenue of $57.20 million during the quarter, compared to analysts’ expectations of $58.49 million.

In other news, CFO Daniel A. Peisert bought 19,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $1.57 per share, for a total transaction of $29,830.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Arthur J. Higgins bought 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of $1.61 per share, for a total transaction of $40,250.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 112,000 shares of company stock worth $174,320 over the last 90 days.

An institutional investor recently raised its position in Depomed stock. Public Employees Retirement System of Ohio increased its position in Depomed, Inc. (NYSE:ASRT) by 57.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,059 shares of the company’s stock after purchasing an additional 46,300 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.20% of Depomed worth $438,000 at the end of the most recent quarter.

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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