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

Shares of Assertio Holdings, Inc. (NASDAQ:ASRT) have been given a consensus rating of “Reduce” by the five research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $22.65.

ASRT has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “neutral” rating and issued a $21.80 price objective (up from $18.00) on shares of Assertio in a report on Tuesday, May 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Assertio in a report on Monday, April 20th. Maxim Group downgraded Assertio from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Zacks Research downgraded Assertio from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Finally, Lake Street Capital restated a “hold” rating and issued a $23.50 price target (up from $21.80) on shares of Assertio in a report on Wednesday, May 13th.

Institutional Investors Weigh In On Assertio

Several large investors have recently modified their holdings of the business. Empowered Funds LLC increased its holdings in shares of Assertio by 7.1% in 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. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Assertio in the fourth quarter worth about $41,000. Dimensional Fund Advisors LP bought a new stake in shares of Assertio in the first quarter worth about $269,000. Rothschild Wealth LLC bought a new stake in shares of Assertio in the fourth quarter worth about $172,000. Finally, Bank of America Corp DE increased its holdings in shares of Assertio by 6,505.0% in the first quarter. Bank of America Corp DE now owns 25,033 shares of the company’s stock worth $477,000 after acquiring an additional 24,654 shares in the last quarter. 48.96% of the stock is currently owned by institutional investors.

Assertio Stock Performance

NASDAQ ASRT opened at $23.50 on Tuesday. The stock has a 50-day simple moving average of $21.69 and a 200 day simple moving average of $15.70. The company has a market capitalization of $151.81 million, a PE ratio of -4.13 and a beta of 0.52. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 0.52. Assertio has a 12 month low of $8.61 and a 12 month high of $23.50.

Assertio (NASDAQ:ASRT) last released its quarterly earnings data on Friday, May 8th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.83). The company 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%. Research analysts forecast that Assertio will post 0.03 EPS for the current 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.