Zacks Investment Research Lowers Assertio (NASDAQ:ASRT) to Hold

Zacks Investment Research downgraded shares of Assertio (NASDAQ:ASRT) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “Assertio Holdings Inc. is a specialty pharmaceutical company. Its portfolio consists of branded prescription neurology, inflammation and pain medications. The company’s business development includes acquisitions, licensing and mergers. Assertio Holdings Inc., formerly known as Assertio Therapeutics Inc., is based in LAKE FOREST, Ill. “

Assertio stock opened at $2.33 on Tuesday. Assertio has a 52 week low of $0.85 and a 52 week high of $5.80. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.07. The stock has a fifty day moving average of $1.82 and a 200-day moving average of $1.36.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings data on Thursday, November 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.12. The business had revenue of $25.47 million for the quarter, compared to analyst estimates of $22.04 million. Assertio had a negative return on equity of 34.57% and a negative net margin of 28.04%. During the same quarter in the previous year, the company posted ($0.36) EPS. On average, sell-side analysts anticipate that Assertio will post -0.07 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in ASRT. Morgan Stanley boosted its position in shares of Assertio by 520.5% during the 1st quarter. Morgan Stanley now owns 258,743 shares of the company’s stock valued at $176,000 after purchasing an additional 217,042 shares in the last quarter. Littlejohn & Co. LLC boosted its position in shares of Assertio by 27.1% during the 2nd quarter. Littlejohn & Co. LLC now owns 781,426 shares of the company’s stock valued at $1,219,000 after purchasing an additional 166,824 shares in the last quarter. Senvest Management LLC bought a new stake in shares of Assertio during the 2nd quarter valued at about $395,000. State Street Corp boosted its position in shares of Assertio by 275.9% during the 2nd quarter. State Street Corp now owns 175,004 shares of the company’s stock valued at $273,000 after purchasing an additional 128,445 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Assertio during the 2nd quarter valued at about $133,000. Institutional investors own 13.58% of the company’s stock.

About Assertio

Assertio Holdings, Inc engages in the provision of commercial pharmaceutical products. Its commercial portfolio of branded products focuses on the following areas: neurology, hospital, and pain and inflammation. The company was founded on August 7, 1995 and is headquartered in Lake Forest, IL.

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