Assertio (NASDAQ:ASRT) Rating Lowered to Hold at StockNews.com

Assertio (NASDAQ:ASRT - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Monday.

A number of other brokerages also recently issued reports on ASRT. Industrial Alliance Securities set a $1.75 price target on shares of Assertio in a research report on Friday, March 14th. HC Wainwright dropped their target price on shares of Assertio from $4.00 to $3.50 and set a "buy" rating on the stock in a report on Wednesday, March 19th.

Assertio Trading Up 4.1%

NASDAQ:ASRT traded up $0.03 during trading hours on Monday, hitting $0.67. 341,075 shares of the company were exchanged, compared to its average volume of 682,498. The stock has a market capitalization of $63.77 million, a price-to-earnings ratio of -0.91, a price-to-earnings-growth ratio of 3.25 and a beta of 0.32. Assertio has a one year low of $0.51 and a one year high of $1.80. The company has a fifty day simple moving average of $0.65 and a 200 day simple moving average of $0.80. The company has a current ratio of 2.01, a quick ratio of 1.57 and a debt-to-equity ratio of 0.30.

Assertio (NASDAQ:ASRT - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.08). The company had revenue of $26.49 million for the quarter, compared to the consensus estimate of $27.52 million. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. During the same quarter last year, the business earned $0.04 earnings per share. Sell-side analysts expect that Assertio will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Assertio

Several institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp bought a new stake in shares of Assertio in the 4th quarter valued at $27,000. Commonwealth Equity Services LLC bought a new stake in Assertio in the fourth quarter valued at $30,000. Sonora Investment Management Group LLC bought a new stake in Assertio in the fourth quarter valued at $39,000. Wealthfront Advisers LLC acquired a new position in shares of Assertio during the fourth quarter valued at about $53,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Assertio by 33.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 67,500 shares of the company's stock worth $59,000 after purchasing an additional 17,000 shares in the last quarter. 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.