Depomed (ASRT) Stock Rating Lowered by Mizuho

Mizuho cut shares of Depomed (NYSE:ASRT) from a buy rating to a neutral rating in a research note published on Friday, reports. Mizuho currently has $7.00 price objective on the stock, down from their previous price objective of $9.00.

A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Depomed from a buy rating to a hold rating in a research note on Tuesday, October 30th. Janney Montgomery Scott downgraded shares of Depomed from a buy rating to a neutral rating in a research note on Wednesday, August 29th. Finally, Roth Capital reiterated a buy rating on shares of Depomed in a research note on Tuesday, August 21st.

ASRT traded down $0.22 during trading on Friday, reaching $4.99. 1,615,624 shares of the company’s stock were exchanged, compared to its average volume of 1,104,469. Depomed has a fifty-two week low of $4.65 and a fifty-two week high of $9.48.

Depomed (NYSE:ASRT) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.53. The business had revenue of $81.20 million for the quarter, compared to analyst estimates of $76.45 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The firm’s quarterly revenue was down 14.9% on a year-over-year basis.

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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