HC Wainwright Lowers Assertio (NASDAQ:ASRT) Price Target to $3.50

Assertio (NASDAQ:ASRT) had its price target trimmed by HC Wainwright from $4.00 to $3.50 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

ASRT has been the subject of several other reports. 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 price target on Assertio in a research report on Friday, March 14th.

Assertio Stock Performance

ASRT opened at $0.71 on Wednesday. The business’s 50-day simple moving average is $0.80 and its 200 day simple moving average is $0.96. Assertio has a 52-week low of $0.68 and a 52-week high of $1.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.57 and a current ratio of 2.01. The firm has a market capitalization of $67.99 million, a PE ratio of -0.97, a PEG ratio of 3.25 and a beta of 0.81.

Institutional Trading of Assertio

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of Assertio by 4.1% in the third quarter. Geode Capital Management LLC now owns 1,074,852 shares of the company’s stock valued at $1,269,000 after buying an additional 42,750 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Assertio by 5.4% in the fourth quarter. Empowered Funds LLC now owns 455,282 shares of the company’s stock valued at $397,000 after buying an additional 23,369 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Assertio by 33.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 67,500 shares of the company’s stock valued at $59,000 after buying an additional 17,000 shares during the last quarter. Sonora Investment Management Group LLC acquired a new stake in shares of Assertio in the fourth quarter valued at approximately $39,000. Finally, Palumbo Wealth Management LLC lifted its position in shares of Assertio by 10.6% in the fourth quarter. Palumbo Wealth Management LLC now owns 205,598 shares of the company’s stock valued at $179,000 after buying an additional 19,637 shares during the last quarter. 48.96% of the stock is owned by institutional investors and hedge funds.

About Assertio

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.