StockNews.com Downgrades Assertio (NASDAQ:ASRT) to Hold

Assertio (NASDAQ:ASRT) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Assertio in a research report on Monday, December 16th.

Assertio Stock Performance

Shares of NASDAQ ASRT opened at $0.72 on Monday. The stock has a 50 day moving average price of $0.80 and a 200 day moving average price of $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 stock has a market capitalization of $68.55 million, a PE ratio of -0.98, a price-to-earnings-growth ratio of 3.25 and a beta of 0.81.

Institutional Trading of Assertio

A number of hedge funds have recently made changes to their positions in ASRT. GSA Capital Partners LLP acquired a new stake in shares of Assertio in the third quarter valued at approximately $177,000. Empowered Funds LLC increased its stake in shares of Assertio by 5.4% during the third quarter. Empowered Funds LLC now owns 431,913 shares of the company’s stock worth $510,000 after purchasing an additional 21,976 shares during the period. Captrust Financial Advisors bought a new position in shares of Assertio during the third quarter worth approximately $26,000. XTX Topco Ltd bought a new position in shares of Assertio during the third quarter worth approximately $203,000. Finally, Geode Capital Management LLC increased its stake in shares of Assertio by 4.1% during the third quarter. Geode Capital Management LLC now owns 1,074,852 shares of the company’s stock worth $1,269,000 after purchasing an additional 42,750 shares during the period. 48.96% of the stock is owned by institutional investors and hedge funds.

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.