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

Key Points

• Analyst consensus: Hold. Six brokers cover Assertio (1 sell, 4 hold, 1 buy) with an average 12‑month price target of $18.00, and several firms recently downgraded or cut targets (e.g., Lake Street $45→$18, HC Wainwright $35→$18, Weiss reissued sell).
• Assertio's latest quarter beat estimates (EPS $(1.86) vs. $(3.05) est.; revenue $13.54M vs. $6.20M est.), but the company remains unprofitable with a negative net margin (−25.59%) and negative ROE (−30.26%); analysts project ~0.03 EPS for the current year.
• Market snapshot: the stock opened at $18.47 with a market cap of about $119.1M, a 12‑month range of $8.61–$20.45, and roughly 49% of shares held by institutions (notable holders include Nantahala and Vanguard).

Shares of Assertio Holdings, Inc. (NASDAQ:ASRT - Get Free Report) have been assigned a consensus rating of "Hold" from the six brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $18.00.

Several analysts have weighed in on ASRT shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Assertio in a research report on Monday, April 20th. Lake Street Capital downgraded Assertio from a "buy" rating to a "hold" rating and decreased their target price for the stock from $45.00 to $18.00 in a report on Thursday, April 9th. Wall Street Zen lowered Assertio from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Maxim Group lowered Assertio from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 9th. Finally, HC Wainwright reiterated a "neutral" rating and issued a $18.00 target price (down from $35.00) on shares of Assertio in a research report on Thursday, April 9th.

Assertio Price Performance

NASDAQ:ASRT opened at $18.47 on Monday. The company has a market cap of $119.13 million, a PE ratio of -3.80 and a beta of 0.44. Assertio has a twelve month low of $8.61 and a twelve month high of $20.45. The company has a current ratio of 1.70, a quick ratio of 1.51 and a debt-to-equity ratio of 0.42. The company's 50 day moving average is $15.65 and its two-hundred day moving average is $12.86.

Assertio (NASDAQ:ASRT - Get Free Report) last released its earnings results on Monday, March 16th. The company reported ($1.86) earnings per share for the quarter, topping the consensus estimate of ($3.05) by $1.19. The company had revenue of $13.54 million for the quarter, compared to the consensus estimate of $6.20 million. Assertio had a negative net margin of 25.59% and a negative return on equity of 30.26%. Analysts anticipate that Assertio will post 0.03 EPS for the current year.

Institutional Trading of Assertio

Large investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of Assertio in the 3rd quarter valued at $26,000. Nantahala Capital Management LLC boosted its holdings in shares of Assertio by 4.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 8,810,073 shares of the company's stock valued at $5,649,000 after acquiring an additional 370,311 shares during the last quarter. Vanguard Group Inc. boosted its holdings 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 valued at $3,899,000 after acquiring an additional 41,332 shares during the last quarter. Opaleye Management Inc. purchased a new stake in shares of Assertio in the 4th quarter valued at $2,585,000. Finally, Edgewood Management LLC purchased a new stake in shares of Assertio in the 4th quarter valued at $975,000. 48.96% of the stock is owned by hedge funds and other 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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