Assertio Holdings, Inc. (NASDAQ:ASRT) Given Average Rating of “Reduce” by Brokerages

Shares of Assertio Holdings, Inc. (NASDAQ:ASRT) have been given a consensus rating of “Reduce” by the five ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $22.65.

ASRT has been the subject of a number of recent research reports. HC Wainwright reiterated a “neutral” rating and set a $21.80 price objective (up from $18.00) on shares of Assertio in a research report on Tuesday, May 5th. Lake Street Capital reiterated a “hold” rating and set a $23.50 price objective (up from $21.80) on shares of Assertio in a research report on Wednesday, May 13th. Zacks Research downgraded Assertio from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Assertio in a research report on Monday, April 20th. Finally, Wall Street Zen downgraded Assertio from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st.

Institutional Trading of Assertio

A number of hedge funds have recently modified their holdings of ASRT. Virtu Financial LLC purchased a new stake in shares of Assertio in the third quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Assertio during the 4th quarter worth about $41,000. Rothschild Wealth LLC acquired a new stake in Assertio during the 4th quarter worth about $172,000. Dimensional Fund Advisors LP acquired a new stake in Assertio during the 1st quarter worth about $269,000. Finally, Empowered Funds LLC boosted its position in Assertio by 7.1% during the 1st quarter. Empowered Funds LLC now owns 16,014 shares of the company’s stock worth $305,000 after acquiring an additional 1,059 shares during the period. Hedge funds and other institutional investors own 48.96% of the company’s stock.

Assertio Stock Performance

Shares of NASDAQ ASRT opened at $23.50 on Tuesday. Assertio has a 1 year low of $8.61 and a 1 year high of $23.50. The stock has a fifty day moving average price of $22.24 and a two-hundred day moving average price of $16.12. The firm has a market cap of $151.81 million, a P/E ratio of -4.13 and a beta of 0.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.57 and a current ratio of 1.82.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings data on Friday, May 8th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.83). Assertio had a negative net margin of 34.94% and a negative return on equity of 38.72%. The company had revenue of $9.93 million for the quarter, compared to analyst estimates of $8.97 million. Research analysts forecast that Assertio will post 0.03 EPS for the current fiscal year.

About Assertio

Assertio Therapeutics, Inc, formerly known as Depomed, is a specialty pharmaceutical company focused on the development and commercialization of therapies for central nervous system (CNS) disorders, including neuropathic pain, migraine and breakthrough cancer pain. The company’s commercial portfolio includes three FDA-approved products—Qutenza (8% capsaicin) for postherpetic neuralgia, Butrans (buprenorphine) transdermal system for chronic pain and Onsolis (fentanyl buccal soluble film) for breakthrough cancer pain—which are marketed primarily in the United States under licensing agreements with global partners.

In addition to its marketed therapies, Assertio maintains a pipeline of preclinical and clinical-stage candidates targeting a range of pain and neurological conditions.