Assertio (NASDAQ:ASRT) Stock Rating Lowered by Wall Street Zen

Assertio (NASDAQ:ASRT) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Thursday.

A number of other equities research analysts have also recently issued reports on ASRT. Alliance Global Partners reiterated a “buy” rating on shares of Assertio in a research note on Tuesday, May 13th. HC Wainwright reiterated a “buy” rating and set a $3.50 price objective on shares of Assertio in a research note on Monday, May 19th. Finally, Industrial Alliance Securities set a $1.75 price objective on Assertio in a research note on Friday, March 14th.

Assertio Trading Down 1.0%

NASDAQ:ASRT opened at $0.70 on Thursday. Assertio has a fifty-two week low of $0.51 and a fifty-two week high of $1.80. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.01 and a quick ratio of 1.57. The stock has a market capitalization of $67.33 million, a PE ratio of -0.96, a price-to-earnings-growth ratio of 3.25 and a beta of 0.32. The business’s 50-day simple moving average is $0.64 and its 200-day simple moving average is $0.78.

Assertio (NASDAQ:ASRT) last announced its earnings results on Monday, May 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. The firm had revenue of $26.49 million during the quarter, compared to analyst estimates of $27.52 million. During the same period in the prior year, the business posted $0.04 EPS. Sell-side analysts expect that Assertio will post -0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Assertio

A number of large investors have recently added to or reduced their stakes in ASRT. Stifel Financial Corp bought a new stake in Assertio in the 4th quarter valued at $27,000. Commonwealth Equity Services LLC bought a new stake in Assertio in the 4th quarter valued at $30,000. Sonora Investment Management Group LLC bought a new stake in Assertio in the 4th quarter valued at $39,000. Wealthfront Advisers LLC bought a new stake in Assertio in the 4th quarter valued at $53,000. Finally, Marshall Wace LLP bought a new stake in Assertio in the 4th quarter valued at $64,000. Institutional investors own 48.96% of the company’s stock.

Assertio Company Profile

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.