Assertio (NASDAQ:ASRT) Rating Lowered to Hold at StockNews.com

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

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

Assertio Stock Up 1.0 %

NASDAQ:ASRT traded up $0.01 during trading hours on Monday, reaching $0.73. The company’s stock had a trading volume of 239,291 shares, compared to its average volume of 771,365. The company has a market capitalization of $69.63 million, a P/E ratio of -1.00, a price-to-earnings-growth ratio of 3.25 and a beta of 0.81. Assertio has a 12 month low of $0.68 and a 12 month 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 50 day moving average price of $0.81 and a two-hundred day moving average price of $0.96.

Institutional Investors Weigh In On Assertio

Several large investors have recently bought and sold shares of ASRT. Geode Capital Management LLC increased its holdings in shares of Assertio by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,074,852 shares of the company’s stock worth $1,269,000 after buying an additional 42,750 shares during the last quarter. Empowered Funds LLC grew its stake 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Assertio by 33.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 67,500 shares of the company’s stock worth $59,000 after purchasing an additional 17,000 shares during the period. Sonora Investment Management Group LLC acquired a new position in shares of Assertio in the fourth quarter valued at approximately $39,000. Finally, Palumbo Wealth Management LLC increased its stake in Assertio by 10.6% during the 4th quarter. Palumbo Wealth Management LLC now owns 205,598 shares of the company’s stock worth $179,000 after buying an additional 19,637 shares during the period. 48.96% of the stock is currently owned by hedge funds and other institutional investors.

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.