HC Wainwright Has Lowered Expectations for Assertio (NASDAQ:ASRT) Stock Price

Key Points

• HC Wainwright has lowered the price target for Assertio (NASDAQ:ASRT) from $3.50 to $3.00, while maintaining a "buy" rating, indicating a potential upside of 313.79% from the previous close.
• Assertio recently reported a quarterly earnings loss of ($0.17) EPS, missing expectations, despite a revenue of $29.22 million which surpassed analyst forecasts.
• Institutional investors hold 48.96% of Assertio's shares, with several funds increasing their stakes in the company during the fourth quarter.

Assertio (NASDAQ:ASRT - Get Free Report) had its target price decreased by analysts at HC Wainwright from $3.50 to $3.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price points to a potential upside of 268.96% from the stock's previous close.

Other research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Assertio from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Alliance Global Partners reissued a "buy" rating on shares of Assertio in a research report on Tuesday, May 13th.

Assertio Stock Down 0.6%

NASDAQ ASRT traded down $0.01 during trading hours on Tuesday, hitting $0.81. The company's stock had a trading volume of 117,616 shares, compared to its average volume of 293,568. Assertio has a 52 week low of $0.51 and a 52 week high of $1.38. The company has a market capitalization of $78.25 million, a PE ratio of -1.81 and a beta of 0.28. The company has a current ratio of 1.59, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The company's 50-day simple moving average is $0.69 and its two-hundred day simple moving average is $0.70.

Assertio (NASDAQ:ASRT - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.07). The firm 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%. Research analysts anticipate that Assertio will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Assertio

Institutional investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in Assertio during the 4th quarter valued at $64,000. Stifel Financial Corp acquired a new stake in Assertio during the fourth quarter worth approximately $27,000. Northern Trust Corp lifted its stake in shares of Assertio by 21.3% in the 4th quarter. Northern Trust Corp now owns 227,217 shares of the company's stock valued at $198,000 after acquiring an additional 39,906 shares during the last quarter. Two Sigma Investments LP raised 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 purchasing an additional 34,004 shares during the last quarter. Finally, CM Management LLC grew its stake in shares of Assertio by 18.8% in the 1st quarter. CM Management LLC now owns 475,000 shares of the company's stock valued at $320,000 after buying an additional 75,000 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.