Assertio (NASDAQ:ASRT) Earns “Neutral” Rating from HC Wainwright

Assertio (NASDAQ:ASRT)‘s stock had its “neutral” rating reissued by analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $18.00 price objective on the stock, down from their prior price objective of $35.00. HC Wainwright’s price objective suggests a potential downside of 2.23% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Wall Street Zen downgraded Assertio from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Assertio in a research note on Wednesday, January 21st. Finally, Zacks Research downgraded Assertio from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 6th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Assertio Stock Down 1.0%

NASDAQ ASRT opened at $18.41 on Thursday. The business has a fifty day moving average price of $13.72 and a 200 day moving average price of $12.34. Assertio has a one year low of $7.65 and a one year high of $20.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.51 and a current ratio of 1.70. The company has a market cap of $118.74 million, a P/E ratio of -3.79 and a beta of 0.43.

Assertio (NASDAQ:ASRT) last posted its quarterly earnings data on Monday, March 16th. The company reported ($1.86) EPS for the quarter, beating the consensus estimate of ($3.05) by $1.19. Assertio had a negative return on equity of 30.26% and a negative net margin of 25.59%.The firm had revenue of $13.54 million during the quarter, compared to the consensus estimate of $6.20 million. Research analysts anticipate that Assertio will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Assertio

Hedge funds have recently modified their holdings of the business. Opaleye Management Inc. purchased a new position in shares of Assertio during the 4th quarter worth $2,585,000. Vanguard Group Inc. grew its holdings in shares of Assertio by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,425,543 shares of the company’s stock worth $3,899,000 after purchasing an additional 41,332 shares during the period. Nantahala Capital Management LLC grew its holdings in shares of Assertio by 4.4% during the 2nd quarter. Nantahala Capital Management LLC now owns 8,810,073 shares of the company’s stock worth $5,649,000 after purchasing an additional 370,311 shares during the period. Rothschild Wealth LLC purchased a new position in shares of Assertio during the 4th quarter worth $172,000. Finally, Edgewood Management LLC purchased a new position in shares of Assertio during the 4th quarter worth $975,000. 48.96% of the stock is currently owned by hedge funds and other institutional investors.

Assertio Company Profile

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.