Assertio (NASDAQ:ASRT) Price Target Cut to $3.50 by Analysts at HC Wainwright

Assertio (NASDAQ:ASRT) had its target price dropped by HC Wainwright from $4.00 to $3.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 392.20% from the company’s current price.

A number of other analysts have also recently commented on ASRT. StockNews.com cut Assertio from a “buy” rating to a “hold” rating in a research report on Monday. Industrial Alliance Securities set a $1.75 target price on Assertio in a research report on Friday, March 14th.

Assertio Trading Up 0.2 %

NASDAQ:ASRT opened at $0.71 on Wednesday. The firm has a market cap of $68.10 million, a PE ratio of -0.97, a price-to-earnings-growth ratio of 3.25 and a beta of 0.81. The company has a current ratio of 2.01, a quick ratio of 1.57 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $0.80 and a 200 day moving average price of $0.95. Assertio has a 12-month low of $0.68 and a 12-month high of $1.80.

Hedge Funds Weigh In On Assertio

Institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors acquired a new position in Assertio in the 3rd quarter valued at about $26,000. Stifel Financial Corp acquired a new position in Assertio in the 4th quarter valued at about $27,000. Commonwealth Equity Services LLC acquired a new position in Assertio in the 4th quarter valued at about $30,000. Sonora Investment Management Group LLC acquired a new position in Assertio in the 4th quarter valued at about $39,000. Finally, Wealthfront Advisers LLC acquired a new position in Assertio in the 4th quarter valued at about $53,000. Institutional investors and hedge funds 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.