Assertio (NASDAQ:ASRT) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Assertio (NASDAQ:ASRT) from a buy rating to a hold rating in a research report released on Saturday.

Several other analysts also recently commented on the stock. Zacks Research downgraded shares of Assertio from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 target price (up from $3.00) on shares of Assertio in a report on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Assertio in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.00.

Assertio Stock Down 2.6%

Shares of NASDAQ:ASRT opened at $13.37 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.43 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $11.85 and a two-hundred day simple moving average of $11.80. Assertio has a 12-month low of $7.65 and a 12-month high of $15.15. The stock has a market capitalization of $86.24 million, a price-to-earnings ratio of -2.75 and a beta of 0.73.

Assertio (NASDAQ:ASRT) last released its earnings results on Monday, March 16th. The company reported ($1.86) EPS for the quarter, topping analysts’ consensus estimates of ($3.05) by $1.19. Assertio had a negative return on equity of 30.26% and a negative net margin of 25.59%.The firm had revenue of $13.54 million for the quarter, compared to analysts’ expectations of $6.20 million. On average, research analysts anticipate that Assertio will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Assertio

Large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Assertio during the 3rd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Assertio in the 4th quarter worth $41,000. Rothschild Wealth LLC bought a new stake in shares of Assertio in the fourth quarter worth $172,000. Perritt Capital Management Inc grew its holdings in shares of Assertio by 51.6% in the third quarter. Perritt Capital Management Inc now owns 350,316 shares of the company’s stock worth $309,000 after acquiring an additional 119,281 shares during the period. Finally, GSA Capital Partners LLP increased its position in Assertio by 536.0% during the third quarter. GSA Capital Partners LLP now owns 381,584 shares of the company’s stock valued at $336,000 after acquiring an additional 321,584 shares during the last quarter. Institutional investors own 48.96% of the company’s stock.

About Assertio

Assertio Therapeutics, Inc, formerly known as Depomed, is a specialty pharmaceutical company focused on the development and commercialization of therapies for central nervous system (CNS) disorders, including neuropathic pain, migraine and breakthrough cancer pain. The company’s commercial portfolio includes three FDA-approved products—Qutenza (8% capsaicin) for postherpetic neuralgia, Butrans (buprenorphine) transdermal system for chronic pain and Onsolis (fentanyl buccal soluble film) for breakthrough cancer pain—which are marketed primarily in the United States under licensing agreements with global partners.

In addition to its marketed therapies, Assertio maintains a pipeline of preclinical and clinical-stage candidates targeting a range of pain and neurological conditions.