HC Wainwright Has Lowered Expectations for Assertio (NASDAQ:ASRT) Stock Price

Assertio (NASDAQ:ASRT) had its target price decreased by HC Wainwright from $3.50 to $3.00 in a report released on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other brokerages also recently commented on ASRT. Wall Street Zen downgraded shares of Assertio from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Alliance Global Partners restated a “buy” rating on shares of Assertio in a research report on Tuesday, May 13th.

Assertio Stock Up 14.5%

Shares of ASRT stock opened at $0.83 on Tuesday. The company has a market capitalization of $79.50 million, a price-to-earnings ratio of -1.84 and a beta of 0.28. Assertio has a one year low of $0.51 and a one year high of $1.38. The company’s fifty day moving average price is $0.68 and its 200-day moving average price is $0.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.66 and a quick ratio of 1.35.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The firm had revenue of $29.22 million for the quarter, compared to the consensus estimate of $27.86 million. Assertio had a negative net margin of 36.97% and a negative return on equity of 36.06%. Sell-side analysts expect that Assertio will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Assertio

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of Assertio by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,095,911 shares of the company’s stock worth $955,000 after buying an additional 21,059 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of Assertio in the 4th quarter worth $27,000. Two Sigma Investments LP grew its stake in shares of Assertio by 3.9% in the 4th quarter. Two Sigma Investments LP now owns 910,046 shares of the company’s stock worth $793,000 after buying an additional 34,004 shares in the last quarter. TSP Capital Management Group LLC boosted its stake in shares of Assertio by 12.2% during the 2nd quarter. TSP Capital Management Group LLC now owns 316,875 shares of the company’s stock worth $203,000 after purchasing an additional 34,550 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Assertio by 21.3% during the 4th quarter. Northern Trust Corp now owns 227,217 shares of the company’s stock worth $198,000 after purchasing an additional 39,906 shares during the period. 48.96% of the stock is 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.