Depomed (ASRT) Upgraded by Zacks Investment Research to Buy

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Depomed (NYSE:ASRT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $6.50 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 16.28% from the stock’s current price.

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. “

Several other analysts have also weighed in on the company. Janney Montgomery Scott lowered Depomed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 29th. Roth Capital reissued a “buy” rating on shares of Depomed in a report on Tuesday, August 21st.

Depomed stock traded down $0.12 during trading hours on Tuesday, hitting $5.59. The stock had a trading volume of 386,140 shares, compared to its average volume of 1,139,889. Depomed has a 1-year low of $4.31 and a 1-year high of $9.48.

Depomed (NYSE:ASRT) last posted its earnings results on Wednesday, August 8th. The company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.03). The business had revenue of $63.27 million during the quarter, compared to the consensus estimate of $63.60 million.

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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