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

Assertio Holdings, Inc. (NASDAQ:ASRTGet Free Report) has received an average recommendation of “Reduce” from the five brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $22.65.

A number of research firms recently commented on ASRT. Weiss Ratings reissued a “sell (d-)” rating on shares of Assertio in a research note on Monday, April 20th. Wall Street Zen lowered shares of Assertio from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Lake Street Capital restated a “hold” rating and set a $23.50 price target (up from $21.80) on shares of Assertio in a research report on Wednesday, May 13th. Maxim Group lowered shares of Assertio from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Finally, Zacks Research lowered shares of Assertio from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th.

Read Our Latest Stock Report on ASRT

Institutional Trading of Assertio

A number of institutional investors have recently modified their holdings of the company. Nantahala Capital Management LLC boosted its holdings in shares of Assertio by 4.4% during the second 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 during the period. Vanguard Group Inc. lifted its holdings in Assertio by 0.9% in the third quarter. Vanguard Group Inc. now owns 4,425,543 shares of the company’s stock worth $3,899,000 after buying an additional 41,332 shares during the period. GSA Capital Partners LLP increased its stake in shares of Assertio by 536.0% during the third 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 in the last quarter. Perritt Capital Management Inc increased its stake in shares of Assertio by 51.6% during the third 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 in the last quarter. Finally, Opaleye Management Inc. bought a new position in shares of Assertio during the fourth quarter valued at approximately $2,585,000. 48.96% of the stock is currently owned by hedge funds and other institutional investors.

Assertio Stock Up 0.1%

ASRT opened at $23.45 on Friday. The stock has a market cap of $151.49 million, a PE ratio of -4.12 and a beta of 0.52. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 0.52. Assertio has a 52 week low of $8.61 and a 52 week high of $23.46. The business’s fifty day simple moving average is $20.08 and its 200 day simple moving average is $14.43.

Assertio (NASDAQ:ASRTGet Free Report) last released its earnings results on Friday, May 8th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.83). The firm had revenue of $9.93 million during the quarter, compared to the consensus estimate of $8.97 million. Assertio had a negative net margin of 34.94% and a negative return on equity of 38.72%. As a group, research analysts expect that Assertio will post 0.03 earnings per share for the current fiscal year.

Assertio Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Assertio (NASDAQ:ASRT)

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