Assertio (NASDAQ:ASRT) Lowered to “Hold” Rating by Wall Street Zen

Assertio (NASDAQ:ASRT) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

ASRT has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Assertio in a report on Wednesday, January 21st. HC Wainwright reissued a “buy” rating and set a $35.00 target price (up from $3.00) on shares of Assertio in a report on Monday, January 5th. Finally, Zacks Research lowered Assertio from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.00.

Assertio Stock Down 2.6%

Shares of NASDAQ ASRT opened at $13.37 on Friday. The firm has a market cap of $86.17 million, a price-to-earnings ratio of -2.75 and a beta of 0.73. The company’s 50-day simple moving average is $11.85 and its 200-day simple moving average is $11.80. The company has a quick ratio of 1.43, a current ratio of 1.70 and a debt-to-equity ratio of 0.42. Assertio has a 52-week low of $7.65 and a 52-week high of $15.15.

Institutional Investors Weigh In On Assertio

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in Assertio during the third quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Assertio in the 4th quarter valued at $41,000. Rothschild Wealth LLC purchased a new stake in Assertio in the 4th quarter valued at $172,000. Perritt Capital Management Inc increased its stake in shares of Assertio by 51.6% in the 3rd quarter. Perritt Capital Management Inc now owns 350,316 shares of the company’s stock worth $309,000 after acquiring an additional 119,281 shares during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in shares of Assertio by 536.0% during the 3rd quarter. GSA Capital Partners LLP now owns 381,584 shares of the company’s stock worth $336,000 after acquiring an additional 321,584 shares during the period. Institutional investors and hedge funds own 48.96% of the company’s stock.

About Assertio

Assertio Therapeutics, Inc, formerly known as Depomed, is a specialty pharmaceutical company focused on the development and commercialization of therapies for central nervous system (CNS) disorders, including neuropathic pain, migraine and breakthrough cancer pain. The company’s commercial portfolio includes three FDA-approved products—Qutenza (8% capsaicin) for postherpetic neuralgia, Butrans (buprenorphine) transdermal system for chronic pain and Onsolis (fentanyl buccal soluble film) for breakthrough cancer pain—which are marketed primarily in the United States under licensing agreements with global partners.

In addition to its marketed therapies, Assertio maintains a pipeline of preclinical and clinical-stage candidates targeting a range of pain and neurological conditions.