Assertio (NASDAQ:ASRT) Rating Lowered to Hold at Wall Street Zen

Assertio (NASDAQ:ASRT) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other equities research analysts also recently weighed in on ASRT. HC Wainwright reissued a “buy” rating and issued a $35.00 target price (up from $3.00) on shares of Assertio in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Assertio in a research report on Wednesday, January 21st. Finally, Zacks Research downgraded Assertio from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.00.

Assertio Stock Performance

Assertio stock opened at $13.37 on Friday. Assertio has a 52 week low of $7.65 and a 52 week high of $15.15. The company has a current ratio of 1.70, a quick ratio of 1.51 and a debt-to-equity ratio of 0.42. The stock has a market cap of $86.24 million, a P/E ratio of -2.75 and a beta of 0.73. The stock has a 50 day moving average of $11.85 and a 200-day moving average of $11.80.

Assertio (NASDAQ:ASRT) last posted its quarterly earnings results on Monday, March 16th. The company reported ($1.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.05) by $1.19. Assertio had a negative net margin of 25.59% and a negative return on equity of 30.26%. The firm had revenue of $13.54 million for the quarter, compared to analysts’ expectations of $6.20 million. On average, analysts expect that Assertio will post -0.15 EPS for the current fiscal year.

Institutional Trading of Assertio

Several institutional investors have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC lifted its position in shares of Assertio by 4.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 8,810,073 shares of the company’s stock worth $5,649,000 after buying an additional 370,311 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Assertio by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,425,543 shares of the company’s stock valued at $3,899,000 after buying an additional 41,332 shares during the last quarter. GSA Capital Partners LLP raised its stake in Assertio by 536.0% during the third quarter. GSA Capital Partners LLP now owns 381,584 shares of the company’s stock worth $336,000 after acquiring an additional 321,584 shares during the period. Virtu Financial LLC acquired a new stake in Assertio during the third quarter worth about $26,000. Finally, Perritt Capital Management Inc lifted its holdings in Assertio by 51.6% in the third quarter. Perritt Capital Management Inc now owns 350,316 shares of the company’s stock worth $309,000 after acquiring an additional 119,281 shares during the last quarter. Institutional investors own 48.96% of the company’s stock.

Assertio Company Profile

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.