Assertio Holdings, Inc. (NASDAQ:ASRT) Given Consensus Recommendation of “Hold” by Analysts

Assertio Holdings, Inc. (NASDAQ:ASRT) has received an average recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $18.00.

ASRT has been the subject of several analyst reports. Wall Street Zen cut shares of Assertio from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Lake Street Capital cut shares of Assertio from a “buy” rating to a “hold” rating and decreased their target price for the company from $45.00 to $18.00 in a research note on Thursday, April 9th. Maxim Group cut shares of Assertio from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Assertio in a research note on Monday, April 20th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $18.00 target price (down from $35.00) on shares of Assertio in a research note on Thursday, April 9th.

Assertio Price Performance

ASRT stock opened at $18.47 on Monday. The firm’s fifty day simple moving average is $15.65 and its 200-day simple moving average is $12.86. The company has a market capitalization of $119.13 million, a P/E ratio of -3.80 and a beta of 0.44. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.51. Assertio has a 12 month low of $8.61 and a 12 month high of $20.45.

Assertio (NASDAQ:ASRT) last posted its earnings results on Monday, March 16th. The company reported ($1.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.05) by $1.19. Assertio had a negative net margin of 25.59% and a negative return on equity of 30.26%. The firm had revenue of $13.54 million during the quarter, compared to analysts’ expectations of $6.20 million. As a group, equities research analysts forecast that Assertio will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On Assertio

Several large investors have recently made changes to their positions in ASRT. Nantahala Capital Management LLC lifted its stake in shares of Assertio by 4.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 8,810,073 shares of the company’s stock valued at $5,649,000 after purchasing an additional 370,311 shares during the period. GSA Capital Partners LLP raised 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 worth $336,000 after acquiring an additional 321,584 shares during the period. Opaleye Management Inc. purchased a new position in Assertio during the fourth quarter valued at $2,585,000. Perritt Capital Management Inc lifted its holdings in Assertio by 51.6% during the third quarter. Perritt Capital Management Inc now owns 350,316 shares of the company’s stock valued at $309,000 after purchasing an additional 119,281 shares in the last quarter. Finally, Edgewood Management LLC purchased a new position in Assertio during the fourth quarter valued at $975,000. 48.96% of the stock is currently 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.