Assertio (NASDAQ:ASRT) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Assertio (NASDAQ:ASRT) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks.com reports.

ASRT has been the subject of several other reports. Wall Street Zen lowered Assertio from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. HC Wainwright lowered their price target on Assertio from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Finally, Alliance Global Partners restated a “buy” rating on shares of Assertio in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Assertio presently has a consensus rating of “Hold” and a consensus price target of $2.38.

Assertio Trading Down 1.4%

ASRT opened at $0.77 on Monday. Assertio has a 52 week low of $0.51 and a 52 week high of $1.38. The business has a fifty day simple moving average of $0.72 and a 200-day simple moving average of $0.70. The firm has a market cap of $74.10 million, a P/E ratio of -1.71 and a beta of 0.28. The company has a quick ratio of 1.34, a current ratio of 1.59 and a debt-to-equity ratio of 0.42.

Assertio (NASDAQ:ASRT) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.07). Assertio had a negative return on equity of 38.19% and a negative net margin of 36.97%.The firm had revenue of $29.22 million for the quarter, compared to analysts’ expectations of $27.86 million. Assertio has set its FY 2025 guidance at EPS. On average, equities analysts expect that Assertio will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ASRT. Stifel Financial Corp acquired a new stake in Assertio in the fourth quarter valued at $27,000. Marshall Wace LLP acquired a new stake in Assertio in the fourth quarter valued at $64,000. Belpointe Asset Management LLC acquired a new stake in Assertio in the first quarter valued at $65,000. Northern Trust Corp raised its stake in Assertio by 21.3% in the fourth quarter. Northern Trust Corp now owns 227,217 shares of the company’s stock valued at $198,000 after buying an additional 39,906 shares in the last quarter. Finally, TSP Capital Management Group LLC raised its stake in Assertio by 12.2% in the second quarter. TSP Capital Management Group LLC now owns 316,875 shares of the company’s stock valued at $203,000 after buying an additional 34,550 shares in the last quarter. 48.96% of the stock is currently owned by hedge funds and other institutional investors.

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.