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

Shares of Assertio Holdings, Inc. (NASDAQ:ASRT) have been given an average rating of “Reduce” by the five brokerages that are covering the stock, Marketbeat.com 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 target price among brokers that have issued a report on the stock in the last year is $22.65.

Several brokerages recently commented on ASRT. Zacks Research cut shares of Assertio from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Maxim Group lowered shares of Assertio from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 9th. Wall Street Zen cut 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 issued a $23.50 price objective (up from $21.80) on shares of Assertio in a report on Wednesday, May 13th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $21.80 target price (up from $18.00) on shares of Assertio in a research report on Tuesday, May 5th.

Assertio Stock Up 0.1%

Shares of Assertio stock opened at $23.44 on Friday. The business’s 50 day simple moving average is $19.69 and its 200 day simple moving average is $14.26. Assertio has a 52-week low of $8.61 and a 52-week high of $23.46. The firm has a market cap of $151.42 million, a PE ratio of -4.12 and a beta of 0.44. 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 released its quarterly earnings results 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). The firm had revenue of $9.93 million for the quarter, compared to analyst estimates of $8.97 million. Assertio had a negative return on equity of 38.72% and a negative net margin of 34.94%. On average, analysts predict that Assertio will post 0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of Assertio in the 3rd quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Assertio during the fourth quarter worth $41,000. Rothschild Wealth LLC acquired a new position in Assertio during the fourth quarter worth $172,000. Dimensional Fund Advisors LP bought a new stake in Assertio during the first quarter worth $269,000. Finally, Empowered Funds LLC raised its position in Assertio by 7.1% during the first quarter. Empowered Funds LLC now owns 16,014 shares of the company’s stock worth $305,000 after acquiring an additional 1,059 shares in the last quarter. Institutional investors and hedge funds 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.