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

Assertio Holdings, Inc. (NASDAQ:ASRT) has received a consensus recommendation of “Reduce” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One 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 brokers that have issued ratings on the stock in the last year is $22.65.

ASRT has been the topic of several research reports. Wall Street Zen downgraded shares of Assertio from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. HC Wainwright reiterated a “neutral” rating and set a $21.80 price target (up from $18.00) on shares of Assertio in a research report on Tuesday, May 5th. Zacks Research downgraded shares of Assertio from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Lake Street Capital reiterated a “hold” rating and set a $23.50 price target (up from $21.80) on shares of Assertio in a research report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Assertio in a research report on Monday, April 20th.

Assertio Price Performance

Shares of NASDAQ:ASRT opened at $23.50 on Tuesday. Assertio has a 52 week low of $8.61 and a 52 week high of $23.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.57 and a current ratio of 1.82. The company’s fifty day moving average is $22.13 and its 200-day moving average is $16.03. The company has a market capitalization of $151.81 million, a PE ratio of -4.13 and a beta of 0.52.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings results 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). The company 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%. Equities research analysts predict that Assertio will post 0.03 earnings per share for the current fiscal year.

Institutional Trading of Assertio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in Assertio by 6,505.0% during the 1st quarter. Bank of America Corp DE now owns 25,033 shares of the company’s stock worth $477,000 after purchasing an additional 24,654 shares during the last quarter. Empowered Funds LLC raised its holdings in Assertio by 7.1% during the 1st quarter. Empowered Funds LLC now owns 16,014 shares of the company’s stock worth $305,000 after purchasing an additional 1,059 shares during the last quarter. Corsair Capital Management L.P. bought a new stake in Assertio during the 1st quarter worth about $487,000. Renaissance Technologies LLC raised its holdings in Assertio by 19.9% during the 1st quarter. Renaissance Technologies LLC now owns 228,599 shares of the company’s stock worth $4,357,000 after purchasing an additional 37,902 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in Assertio during the 1st quarter worth about $1,047,000. 48.96% of the stock is owned by institutional investors.

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.