Assertio (NASDAQ:ASRT) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Assertio (NASDAQ:ASRT) from a buy rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Assertio Holdings Inc. is a specialty pharmaceutical company. Its portfolio consists of branded prescription neurology, inflammation and pain medications. The company’s business development includes acquisitions, licensing and mergers. Assertio Holdings Inc., formerly known as Assertio Therapeutics Inc., is based in LAKE FOREST, Ill. “

NASDAQ ASRT opened at $2.33 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.07. Assertio has a 1 year low of $0.85 and a 1 year high of $5.80. The business’s 50-day moving average is $1.82 and its 200 day moving average is $1.36.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings results on Thursday, November 4th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.12. Assertio had a negative return on equity of 34.57% and a negative net margin of 28.04%. The firm had revenue of $25.47 million for the quarter, compared to analysts’ expectations of $22.04 million. During the same period in the previous year, the firm posted ($0.36) EPS. As a group, research analysts predict that Assertio will post -0.07 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Littlejohn & Co. LLC boosted its holdings in Assertio by 27.1% in the 2nd quarter. Littlejohn & Co. LLC now owns 781,426 shares of the company’s stock worth $1,219,000 after buying an additional 166,824 shares during the period. Geode Capital Management LLC boosted its holdings in Assertio by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,331 shares of the company’s stock worth $311,000 after buying an additional 7,525 shares during the period. TSP Capital Management Group LLC boosted its holdings in Assertio by 105.5% in the 3rd quarter. TSP Capital Management Group LLC now owns 268,624 shares of the company’s stock worth $243,000 after buying an additional 137,875 shares during the period. Morgan Stanley boosted its holdings in Assertio by 520.5% in the 1st quarter. Morgan Stanley now owns 258,743 shares of the company’s stock worth $176,000 after buying an additional 217,042 shares during the period. Finally, Senvest Management LLC bought a new position in Assertio in the 2nd quarter worth $395,000. 13.58% of the stock is owned by institutional investors.

About Assertio

Assertio Holdings, Inc engages in the provision of commercial pharmaceutical products. Its commercial portfolio of branded products focuses on the following areas: neurology, hospital, and pain and inflammation. The company was founded on August 7, 1995 and is headquartered in Lake Forest, IL.

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