Assertio Holdings, Inc. (NASDAQ:ASRT) Given Consensus Rating of “Reduce” by Brokerages

Assertio Holdings, Inc. (NASDAQ:ASRT) has received an average recommendation of “Reduce” from the five ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $22.65.

Several research firms have recently weighed in on ASRT. Wall Street Zen cut Assertio from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Zacks Research cut Assertio from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Lake Street Capital reaffirmed a “hold” rating and set a $23.50 price objective (up from $21.80) on shares of Assertio in a research report on Wednesday, May 13th. Maxim Group cut Assertio from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $21.80 price objective (up from $18.00) on shares of Assertio in a research report on Tuesday, May 5th.

Assertio Price Performance

ASRT stock opened at $23.50 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.82 and a quick ratio of 1.57. The stock has a market capitalization of $151.81 million, a P/E ratio of -4.13 and a beta of 0.52. The business has a 50-day moving average of $21.69 and a 200-day moving average of $15.70. Assertio has a fifty-two week low of $8.61 and a fifty-two week high of $23.50.

Assertio (NASDAQ:ASRT) last posted its quarterly earnings data on Friday, May 8th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($2.10) by ($0.83). The firm had revenue of $9.93 million for the quarter, compared to analyst estimates of $8.97 million. Assertio had a negative return on equity of 38.72% and a negative net margin of 34.94%. On average, sell-side analysts anticipate that Assertio will post 0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in Assertio during the third quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Assertio during the fourth quarter worth $41,000. Rothschild Wealth LLC acquired a new position in Assertio during the fourth quarter worth $172,000. Dimensional Fund Advisors LP acquired a new position in Assertio during the first quarter worth $269,000. Finally, Empowered Funds LLC increased its holdings in Assertio by 7.1% during the first quarter. Empowered Funds LLC now owns 16,014 shares of the company’s stock worth $305,000 after buying an additional 1,059 shares during the last quarter. 48.96% of the stock is owned by institutional investors and hedge funds.

Assertio Company Profile

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.