StockNews.com Downgrades Assertio (NASDAQ:ASRT) to Hold

Assertio (NASDAQ:ASRT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other research firms also recently weighed in on ASRT. Lake Street Capital dropped their target price on shares of Assertio from $9.00 to $7.00 in a research report on Friday, August 4th. TheStreet cut shares of Assertio from a “b-” rating to a “c+” rating in a research report on Monday, September 11th. Finally, BWS Financial reduced their target price on Assertio from $6.00 to $4.00 and set a “buy” rating for the company in a report on Friday.

Assertio Price Performance

Shares of NASDAQ:ASRT opened at $2.34 on Friday. The company has a market capitalization of $132.21 million, a PE ratio of 1.58, a price-to-earnings-growth ratio of 0.46 and a beta of 1.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.44 and a current ratio of 1.68. The stock has a fifty day moving average of $2.63 and a 200-day moving average of $4.49. Assertio has a one year low of $2.06 and a one year high of $8.01.

Assertio (NASDAQ:ASRT) last announced its earnings results on Thursday, August 3rd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company had revenue of $40.99 million for the quarter, compared to analysts’ expectations of $39.58 million. Assertio had a net margin of 58.15% and a return on equity of 45.15%. As a group, equities analysts anticipate that Assertio will post 0.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Assertio news, Director William Mckee sold 22,000 shares of Assertio stock in a transaction on Monday, August 14th. The shares were sold at an average price of $3.14, for a total transaction of $69,080.00. Following the completion of the sale, the director now owns 238,780 shares of the company’s stock, valued at approximately $749,769.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Assertio news, SVP Sam Schlessinger sold 45,236 shares of Assertio stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $3.04, for a total value of $137,517.44. Following the completion of the sale, the senior vice president now directly owns 69,038 shares in the company, valued at $209,875.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Mckee sold 22,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $3.14, for a total transaction of $69,080.00. Following the transaction, the director now owns 238,780 shares in the company, valued at approximately $749,769.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 363,810 shares of company stock worth $1,111,332. 7.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Assertio

Institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. acquired a new position in Assertio during the second quarter worth $25,000. State of Wyoming bought a new stake in shares of Assertio during the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Assertio during the 1st quarter valued at about $33,000. Bank of America Corp DE bought a new position in shares of Assertio in the 4th quarter valued at approximately $32,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in Assertio in the 1st quarter worth approximately $68,000. Institutional investors and hedge funds own 61.12% of the company’s stock.

About Assertio

Assertio Holdings, Inc, a commercial pharmaceutical company, provides medicines in the areas of neurology, rheumatology, and pain and inflammation. Its pharmaceutical products include INDOCIN, an oral and suppository solution for the treatment of moderate to severe rheumatoid arthritis, including acute flares of chronic disease; ankylosing spondylitis and osteoarthritis; and acute painful shoulder and gouty arthritis.