Assertio Holdings, Inc. (NASDAQ:ASRT) Receives Average Rating of "Hold" from Brokerages

Key Points

• Assertio (ASRT) has an average analyst rating of "Hold" from five brokers (1 sell, 3 hold, 1 buy) and a 12‑month consensus price target of $18.00.
• Multiple firms recently downgraded or cut targets on ASRT — notably HC Wainwright and Lake Street lowered targets to $18 (from $35 and $45 respectively), while Zacks and Wall Street Zen downgraded ratings.
• Assertio reported Q results showing EPS of −$1.86 (beating estimates of −$3.05) and revenue of $13.54M (vs. $6.20M est.); shares traded around $18.05 with a market cap of roughly $116M and continued negative profitability metrics.

Shares of Assertio Holdings, Inc. (NASDAQ:ASRT - Get Free Report) have received an average rating of "Hold" from the five analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $18.00.

Several research firms have recently commented on ASRT. Wall Street Zen downgraded Assertio from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. HC Wainwright reissued a "neutral" rating and issued a $18.00 price objective (down from $35.00) on shares of Assertio in a report on Thursday. Zacks Research downgraded Assertio from a "strong-buy" rating to a "hold" rating in a report on Friday, March 6th. Lake Street Capital reaffirmed a "hold" rating and set a $18.00 price target (down from $45.00) on shares of Assertio in a report on Thursday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Assertio in a report on Wednesday, January 21st.

Assertio Trading Down 2.0%

Shares of NASDAQ:ASRT traded down $0.37 during mid-day trading on Thursday, reaching $18.05. The stock had a trading volume of 475,185 shares, compared to its average volume of 86,520. The firm has a market cap of $116.39 million, a PE ratio of -3.71 and a beta of 0.43. The firm has a 50 day simple moving average of $13.72 and a two-hundred day simple moving average of $12.34. The company has a current ratio of 1.70, a quick ratio of 1.51 and a debt-to-equity ratio of 0.42. Assertio has a twelve month low of $8.25 and a twelve month high of $20.45.

Assertio (NASDAQ:ASRT - Get Free Report) last released its quarterly earnings data on Monday, March 16th. The company reported ($1.86) EPS for the quarter, beating the consensus estimate of ($3.05) by $1.19. The company had revenue of $13.54 million during the quarter, compared to the consensus estimate of $6.20 million. Assertio had a negative return on equity of 30.26% and a negative net margin of 25.59%. On average, research analysts predict that Assertio will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Assertio

Several institutional investors have recently modified their holdings of ASRT. Nantahala Capital Management LLC grew 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 worth $5,649,000 after acquiring an additional 370,311 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 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 during the last quarter. GSA Capital Partners LLP raised its position in shares of 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 during the last quarter. Perritt Capital Management Inc raised its position in shares of 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 during the last quarter. Finally, Opaleye Management Inc. purchased a new position in shares of Assertio in the 4th quarter worth about $2,585,000. 48.96% of the stock is currently owned by institutional investors.

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.

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