Assertio Holdings, Inc. (NASDAQ:ASRT) Receives Consensus Recommendation of “Reduce” from Analysts

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

A number of research analysts recently weighed in on ASRT shares. Zacks Research lowered Assertio from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. Maxim Group cut shares of Assertio from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th. Lake Street Capital reiterated a “hold” rating and issued a $23.50 price objective (up from $21.80) on shares of Assertio in a report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Assertio in a research report on Monday, April 20th. Finally, Wall Street Zen cut shares of Assertio from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st.

Institutional Investors Weigh In On Assertio

Several hedge funds have recently bought and sold shares of ASRT. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Assertio during the fourth quarter worth approximately $41,000. Dimensional Fund Advisors LP bought a new position in Assertio during the 1st quarter worth $269,000. Empowered Funds LLC boosted its position in shares of Assertio by 7.1% in the first quarter. Empowered Funds LLC now owns 16,014 shares of the company’s stock valued at $305,000 after acquiring an additional 1,059 shares during the period. Rothschild Wealth LLC bought a new stake in shares of Assertio in the fourth quarter valued at about $172,000. Finally, Bank of America Corp DE grew its stake in shares of Assertio by 6,505.0% in the first quarter. Bank of America Corp DE now owns 25,033 shares of the company’s stock valued at $477,000 after acquiring an additional 24,654 shares in the last quarter. 48.96% of the stock is currently owned by institutional investors and hedge funds.

Assertio Trading Up 0.1%

Assertio stock opened at $23.44 on Friday. The stock has a 50-day simple moving average of $19.69 and a 200 day simple moving average of $14.26. The stock has a market capitalization of $151.42 million, a P/E ratio of -4.12 and a beta of 0.44. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.57 and a current ratio of 1.82. Assertio has a 52 week low of $8.61 and a 52 week high of $23.46.

Assertio (NASDAQ:ASRT) last released its quarterly earnings data on Friday, May 8th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.10) by ($0.83). Assertio had a negative net margin of 34.94% and a negative return on equity of 38.72%. The business had revenue of $9.93 million during the quarter, compared to the consensus estimate of $8.97 million. Analysts expect that Assertio will post 0.03 earnings per share for the current year.

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.