Assertio Holdings, Inc. (NASDAQ:ASRT) Receives $18.00 Consensus Target Price from Brokerages

Assertio Holdings, Inc. (NASDAQ:ASRT) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $19.90.

A number of equities analysts have recently commented on ASRT shares. Zacks Research cut Assertio from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Assertio in a report on Monday, April 20th. HC Wainwright reissued a “neutral” rating and set a $21.80 price target (up from $18.00) on shares of Assertio in a report on Tuesday, May 5th. Lake Street Capital cut Assertio from a “buy” rating to a “hold” rating and lowered their price target for the stock from $45.00 to $18.00 in a report on Thursday, April 9th. Finally, Wall Street Zen cut Assertio from a “buy” rating to a “hold” rating in a report on Saturday, March 21st.

Hedge Funds Weigh In On Assertio

A number of institutional investors and hedge funds have recently bought and sold shares of ASRT. Nantahala Capital Management LLC increased its holdings in 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 purchasing an additional 370,311 shares in the last quarter. Vanguard Group Inc. increased its holdings in Assertio by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,425,543 shares of the company’s stock worth $3,899,000 after purchasing an additional 41,332 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Assertio by 536.0% in the 3rd quarter. GSA Capital Partners LLP now owns 381,584 shares of the company’s stock worth $336,000 after purchasing an additional 321,584 shares in the last quarter. Virtu Financial LLC acquired a new position in Assertio in the 3rd quarter worth about $26,000. Finally, Perritt Capital Management Inc increased its holdings in Assertio by 51.6% in the 3rd quarter. Perritt Capital Management Inc now owns 350,316 shares of the company’s stock worth $309,000 after purchasing an additional 119,281 shares in the last quarter. Institutional investors and hedge funds own 48.96% of the company’s stock.

Assertio Price Performance

Assertio stock opened at $22.50 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.51 and a current ratio of 1.70. Assertio has a 52 week low of $8.61 and a 52 week high of $22.55. The stock has a market capitalization of $145.13 million, a P/E ratio of -4.63 and a beta of 0.44. The stock has a fifty day moving average of $16.27 and a 200-day moving average of $13.06.

Assertio (NASDAQ:ASRT) last posted its quarterly earnings results on Monday, May 11th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.83). Assertio had a negative return on equity of 30.26% and a negative net margin of 25.59%.The business had revenue of $9.93 million for the quarter, compared to analyst estimates of $8.97 million. On average, sell-side analysts expect that Assertio will post 0.03 earnings per share for the current fiscal year.

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.