Assertio (NASDAQ:ASRT) Cut to Hold at StockNews.com

Assertio (NASDAQ:ASRTGet Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Assertio Stock Performance

Shares of ASRT stock opened at $1.01 on Wednesday. The firm has a market cap of $96.08 million, a PE ratio of -0.26 and a beta of 1.00. The company has a quick ratio of 1.45, a current ratio of 1.87 and a debt-to-equity ratio of 0.29. Assertio has a 12 month low of $0.73 and a 12 month high of $7.58. The company’s fifty day simple moving average is $0.95 and its 200-day simple moving average is $1.04.

Assertio (NASDAQ:ASRTGet Free Report) last issued its quarterly earnings data on Monday, March 11th. The company reported $0.08 earnings per share for the quarter. The company had revenue of $32.99 million for the quarter, compared to analyst estimates of $31.42 million. Assertio had a negative net margin of 234.40% and a positive return on equity of 10.80%. Equities research analysts expect that Assertio will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Alethea Capital Management LLC bought a new stake in Assertio in the 3rd quarter valued at about $343,000. Armistice Capital LLC purchased a new stake in Assertio during the third quarter valued at about $10,045,000. Thompson Siegel & Walmsley LLC grew its stake in Assertio by 489.6% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,225,233 shares of the company’s stock valued at $3,137,000 after buying an additional 1,017,436 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Assertio by 99.9% during the 3rd quarter. Alps Advisors Inc. now owns 110,594 shares of the company’s stock valued at $283,000 after purchasing an additional 55,259 shares during the period. Finally, SG Americas Securities LLC grew its stake in Assertio by 45.4% during the fourth quarter. SG Americas Securities LLC now owns 55,769 shares of the company’s stock valued at $60,000 after acquiring an additional 17,417 shares in the last quarter. 48.96% of the stock is currently owned by institutional investors.

About Assertio

(Get Free Report)

Assertio Holdings, Inc, a commercial pharmaceutical company, provides various products to patients in the United States. 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.

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