Assertio Therapeutics, Inc. (NASDAQ:ASRT) was down 6.7% on Friday . The company traded as low as $0.89 and last traded at $0.90, approximately 585,979 shares were traded during mid-day trading. A decline of 62% from the average daily volume of 1,553,827 shares. The stock had previously closed at $0.97.
A number of analysts recently weighed in on ASRT shares. Brookline Capital Management started coverage on Assertio Therapeutics in a report on Wednesday, June 3rd. They issued a “buy” rating and a $3.50 price objective for the company. Zacks Investment Research downgraded Assertio Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th.
The stock has a fifty day simple moving average of $0.88 and a two-hundred day simple moving average of $0.94.
A number of institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its holdings in Assertio Therapeutics by 20.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 75,888 shares of the company’s stock worth $65,000 after acquiring an additional 12,968 shares during the period. Ahrens Investment Partners LLC acquired a new stake in Assertio Therapeutics during the 2nd quarter worth about $51,000. TSP Capital Management Group LLC grew its holdings in Assertio Therapeutics by 84.4% during the 2nd quarter. TSP Capital Management Group LLC now owns 504,400 shares of the company’s stock worth $432,000 after acquiring an additional 230,800 shares during the period. Finally, Lenox Wealth Advisors LLC acquired a new stake in Assertio Therapeutics during the 2nd quarter worth about $427,000. Hedge funds and other institutional investors own 65.98% of the company’s stock.
About Assertio Therapeutics (NASDAQ:ASRT)
Assertio Therapeutics, Inc, a specialty pharmaceutical company, engages in the development, sale, and licensing of products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the management of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; and Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults.
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