Assertio (NASDAQ:ASRT) Downgraded by StockNews.com to "Hold"

Assertio (NASDAQ:ASRT - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Monday.

Separately, HC Wainwright reiterated a "buy" rating and set a $4.00 price target on shares of Assertio in a research report on Monday, December 16th.

Assertio Trading Up 1.3 %

ASRT stock traded up $0.01 during midday trading on Monday, hitting $0.72. 852,588 shares of the company's stock were exchanged, compared to its average volume of 762,047. Assertio has a 1-year low of $0.68 and a 1-year high of $1.80. 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 stock has a market capitalization of $68.96 million, a PE ratio of -0.99, a P/E/G ratio of 3.25 and a beta of 0.81. The business has a 50-day simple moving average of $0.80 and a two-hundred day simple moving average of $0.95.

Hedge Funds Weigh In On Assertio

Several institutional investors have recently bought and sold shares of ASRT. XTX Topco Ltd acquired a new position in shares of Assertio in the third quarter valued at approximately $203,000. GSA Capital Partners LLP purchased a new position in Assertio in the 3rd quarter valued at approximately $177,000. CM Management LLC grew its stake in shares of Assertio by 23.1% in the fourth quarter. CM Management LLC now owns 400,000 shares of the company's stock worth $348,000 after acquiring an additional 75,000 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Assertio in the fourth quarter worth $64,000. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Assertio during the fourth quarter worth $53,000. 48.96% of the stock is owned by institutional investors and hedge funds.

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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.