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

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

Several other brokerages also recently issued reports on ASRT. Industrial Alliance Securities set a $1.75 price objective on shares of Assertio in a research note on Friday, March 14th. StockNews.com lowered shares of Assertio from a “buy” rating to a “hold” rating in a report on Monday, March 17th.

Assertio Stock Up 1.3 %

Shares of NASDAQ:ASRT opened at $0.72 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.57 and a debt-to-equity ratio of 0.30. The company has a market cap of $68.96 million, a price-to-earnings ratio of -0.99, a PEG 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 50-day moving average price of $0.80 and a 200 day moving average price of $0.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASRT. Captrust Financial Advisors purchased a new position in Assertio in the third quarter valued at $26,000. Stifel Financial Corp purchased a new stake in Assertio during the 4th quarter valued at about $27,000. Commonwealth Equity Services LLC purchased a new stake in Assertio during the 4th quarter valued at about $30,000. Sonora Investment Management Group LLC acquired a new position in Assertio in the 4th quarter valued at about $39,000. Finally, Wealthfront Advisers LLC acquired a new position in Assertio in the 4th quarter valued at about $53,000. 48.96% of the stock is currently 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.