Assertio (NASDAQ:ASRT) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Assertio (NASDAQ:ASRT - Free Report) from a hold rating to a sell rating in a report released on Thursday morning.

Other analysts have also issued reports about the company. Industrial Alliance Securities set a $1.75 target price on Assertio in a research note on Friday, March 14th. Alliance Global Partners reiterated a "buy" rating on shares of Assertio in a research note on Tuesday, May 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $3.50 price target on shares of Assertio in a report on Monday, May 19th.

Assertio Stock Performance

NASDAQ ASRT traded down $0.01 during trading hours on Thursday, reaching $0.69. 31,962 shares of the company were exchanged, compared to its average volume of 677,679. The stock has a market capitalization of $66.09 million, a P/E ratio of -0.94, a P/E/G ratio of 3.25 and a beta of 0.32. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30. Assertio has a 1 year low of $0.51 and a 1 year high of $1.80. The business's 50 day simple moving average is $0.64 and its 200-day simple moving average is $0.78.

Assertio (NASDAQ:ASRT - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The company had revenue of $26.49 million for the quarter, compared to analysts' expectations 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 in the previous year, the business earned $0.04 EPS. On average, equities research analysts expect that Assertio will post -0.15 earnings per share for the current year.

Institutional Trading of Assertio

A number of large investors have recently modified their holdings of the business. Stifel Financial Corp purchased a new stake in Assertio in the fourth quarter valued at approximately $27,000. Commonwealth Equity Services LLC bought a new position in shares of Assertio in the 4th quarter worth $30,000. Sonora Investment Management Group LLC purchased a new stake in shares of Assertio during the 4th quarter valued at $39,000. Wealthfront Advisers LLC bought a new stake in shares of Assertio during the 4th quarter worth $53,000. Finally, Marshall Wace LLP bought a new stake in shares of Assertio during the 4th quarter worth $64,000. Institutional investors own 48.96% of the company's stock.

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.