Assertio Holdings, Inc. (NASDAQ:ASRT) Given Consensus Recommendation of “Reduce” by Analysts

Assertio Holdings, Inc. (NASDAQ:ASRT) has earned a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $22.65.

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

Assertio Trading Down 0.1%

Shares of ASRT opened at $23.45 on Friday. Assertio has a 1-year low of $8.61 and a 1-year high of $23.47. The company has a 50-day moving average of $20.61 and a 200 day moving average of $14.65. The firm has a market capitalization of $151.53 million, a price-to-earnings ratio of -4.12 and a beta of 0.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.82 and a quick ratio of 1.57.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings data on Friday, May 8th. The company reported ($2.93) earnings per share 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 the consensus estimate of $8.97 million. On average, research analysts expect that Assertio will post 0.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ASRT. Nantahala Capital Management LLC increased its position in Assertio by 4.4% during the 2nd quarter. Nantahala Capital Management LLC now owns 8,810,073 shares of the company’s stock valued at $5,649,000 after purchasing an additional 370,311 shares during the period. GSA Capital Partners LLP increased its position in Assertio by 536.0% during the 3rd quarter. GSA Capital Partners LLP now owns 381,584 shares of the company’s stock valued at $336,000 after purchasing an additional 321,584 shares during the period. Opaleye Management Inc. purchased a new position in Assertio during the 4th quarter valued at about $2,585,000. Perritt Capital Management Inc increased its position in Assertio by 51.6% during the 3rd quarter. Perritt Capital Management Inc now owns 350,316 shares of the company’s stock valued at $309,000 after purchasing an additional 119,281 shares during the period. Finally, Edgewood Management LLC purchased a new position in Assertio during the 4th quarter valued at about $975,000. Hedge funds and other institutional investors own 48.96% of the company’s stock.

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.