Assertio (NASDAQ:ASRT) Downgraded by Zacks Research to Strong Sell

Key Points

• Assertio (NASDAQ:ASRT) has been downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, indicating a significant shift in analyst sentiment towards the stock.
• Despite the downgrade, HC Wainwright maintained a "buy" rating but lowered the target price from $3.50 to $3.00, while the stock has an average target price of $2.38.
• The company's recent earnings report showed a loss of ($0.17) EPS, missing expectations, but revenue of $29.22 million exceeded analyst forecasts, showcasing an uneven financial performance.

Assertio (NASDAQ:ASRT - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. HC Wainwright reduced their target price on Assertio from $3.50 to $3.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Wall Street Zen cut Assertio from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Assertio in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $2.38.

Assertio Stock Performance

Assertio stock opened at $0.78 on Monday. The stock has a market cap of $75.14 million, a P/E ratio of -1.74 and a beta of 0.28. The company has a current ratio of 1.59, a quick ratio of 1.34 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $0.71 and a 200-day moving average of $0.70. Assertio has a 52 week low of $0.51 and a 52 week high of $1.38.

Assertio (NASDAQ:ASRT - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The business had revenue of $29.22 million for the quarter, compared to analysts' expectations of $27.86 million. Assertio had a negative net margin of 36.97% and a negative return on equity of 38.19%. Assertio has set its FY 2025 guidance at EPS. On average, analysts expect that Assertio will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Assertio

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nantahala Capital Management LLC raised its position in shares of Assertio by 4.4% during 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 in the last quarter. TSP Capital Management Group LLC increased its position in Assertio by 12.2% in the second quarter. TSP Capital Management Group LLC now owns 316,875 shares of the company's stock worth $203,000 after buying an additional 34,550 shares during the period. Belpointe Asset Management LLC acquired a new stake in Assertio in the first quarter worth $65,000. CM Management LLC increased its position in Assertio by 18.8% in the first quarter. CM Management LLC now owns 475,000 shares of the company's stock worth $320,000 after buying an additional 75,000 shares during the period. Finally, Two Sigma Investments LP increased its position in Assertio by 3.9% in the fourth quarter. Two Sigma Investments LP now owns 910,046 shares of the company's stock worth $793,000 after buying an additional 34,004 shares during the period. 48.96% of the stock is owned by institutional investors and hedge funds.

About Assertio

Assertio Holdings, Inc, a commercial pharmaceutical company, provides various products to patients in the United States. Its pharmaceutical products include INDOCIN, an oral and suppository solution for the treatment of moderate to severe rheumatoid arthritis, including acute flares of chronic disease; ankylosing spondylitis and osteoarthritis; and acute painful shoulder and gouty arthritis.

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