Assertio (NASDAQ:ASRT) Cut to "Hold" at StockNews.com

Assertio (NASDAQ:ASRT - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a report released on Monday.

Several other research firms have also recently weighed in on ASRT. HC Wainwright lowered their target price on Assertio from $4.00 to $3.50 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Industrial Alliance Securities set a $1.75 target price on Assertio in a report on Friday, March 14th.

Assertio Stock Up 4.1%

Shares of ASRT stock traded up $0.03 during mid-day trading on Monday, reaching $0.67. 341,077 shares of the company were exchanged, compared to its average volume of 683,592. The business's 50 day simple moving average is $0.65 and its 200 day simple moving average is $0.80. Assertio has a fifty-two week low of $0.51 and a fifty-two week high of $1.80. The company has a market capitalization of $63.77 million, a P/E ratio of -0.91, a P/E/G ratio of 3.25 and a beta of 0.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.57 and a current ratio of 2.01.

Assertio (NASDAQ:ASRT - Get Free Report) last posted its earnings results 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). Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. The company had revenue of $26.49 million during the quarter, compared to the consensus estimate of $27.52 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. Research analysts predict that Assertio will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ASRT. Nantahala Capital Management LLC lifted its holdings in Assertio by 3.6% during the 1st quarter. Nantahala Capital Management LLC now owns 8,439,762 shares of the company's stock worth $5,693,000 after purchasing an additional 291,426 shares during the last quarter. Geode Capital Management LLC grew its position in Assertio by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,095,911 shares of the company's stock worth $955,000 after acquiring an additional 21,059 shares during the last quarter. Two Sigma Investments LP grew its position in Assertio by 3.9% during the 4th quarter. Two Sigma Investments LP now owns 910,046 shares of the company's stock worth $793,000 after acquiring an additional 34,004 shares during the last quarter. CM Management LLC lifted its holdings in Assertio by 18.8% during the 1st 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, Empowered Funds LLC lifted its holdings in Assertio by 5.4% during the 4th quarter. Empowered Funds LLC now owns 455,282 shares of the company's stock worth $397,000 after buying an additional 23,369 shares during the period. 48.96% of the stock is currently owned by institutional investors.

Assertio Company Profile

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.