Assertio (NASDAQ:ASRT) Price Target Cut to $3.50 by Analysts at HC Wainwright

Assertio (NASDAQ:ASRT) had its price target reduced by HC Wainwright from $4.00 to $3.50 in a report released on Wednesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other analysts have also commented on the company. Industrial Alliance Securities set a $1.75 price target on Assertio in a research note on Friday, March 14th. StockNews.com lowered Assertio from a “buy” rating to a “hold” rating in a research note on Monday.

Assertio Price Performance

Shares of ASRT stock opened at $0.71 on Wednesday. The stock’s fifty day simple moving average is $0.80 and its 200 day simple moving average is $0.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.01 and a quick ratio of 1.57. The firm has a market cap of $67.99 million, a price-to-earnings ratio of -0.97, a P/E/G ratio of 3.25 and a beta of 0.81. Assertio has a one year low of $0.68 and a one year high of $1.80.

Hedge Funds Weigh In On Assertio

Several institutional investors have recently bought and sold shares of ASRT. Captrust Financial Advisors bought a new position in Assertio in the 3rd quarter valued at $26,000. Stifel Financial Corp bought a new position in Assertio in the 4th quarter valued at $27,000. Commonwealth Equity Services LLC bought a new position in Assertio in the 4th quarter valued at $30,000. Sonora Investment Management Group LLC bought a new stake in shares of Assertio during the fourth quarter worth $39,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of Assertio during the fourth quarter worth $53,000. Institutional investors own 48.96% of the company’s stock.

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.