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

Assertio (NASDAQ:ASRT) had its target price lowered by equities researchers at HC Wainwright from $4.00 to $3.50 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 387.47% from the stock’s current price.

A number of other equities research analysts have 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. StockNews.com cut shares of Assertio from a “buy” rating to a “hold” rating in a research note on Monday.

Assertio Price Performance

ASRT stock opened at $0.72 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.01 and a quick ratio of 1.57. Assertio has a one year low of $0.68 and a one year high of $1.80. The stock has a market cap of $68.55 million, a PE ratio of -0.98, a P/E/G ratio of 3.25 and a beta of 0.81. The firm has a 50 day simple moving average of $0.80 and a two-hundred day simple moving average of $0.96.

Institutional Investors Weigh In On Assertio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASRT. XTX Topco Ltd bought a new stake in Assertio during the 3rd quarter valued at $203,000. GSA Capital Partners LLP bought a new stake in Assertio during the 3rd quarter valued at $177,000. CM Management LLC raised its holdings in Assertio by 23.1% during the 4th quarter. CM Management LLC now owns 400,000 shares of the company’s stock valued at $348,000 after buying an additional 75,000 shares during the last quarter. Marshall Wace LLP bought a new stake in Assertio during the 4th quarter valued at $64,000. Finally, Wealthfront Advisers LLC bought a new stake in Assertio during the 4th quarter valued at $53,000. 48.96% of the stock is currently owned by 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.