HC Wainwright Has Lowered Expectations for Assertio (NASDAQ:ASRT) Stock Price

Assertio (NASDAQ:ASRT - Get Free Report) had its target price cut by equities researchers at HC Wainwright from $4.00 to $3.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price target would indicate a potential upside of 386.11% from the stock's current price.

Other analysts have also issued research reports about the stock. 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 research report on Monday, March 17th.

Assertio Stock Performance

Shares of NASDAQ:ASRT traded up $0.01 during midday trading on Wednesday, reaching $0.72. The company's stock had a trading volume of 852,588 shares, compared to its average volume of 762,427. The firm 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. Assertio has a twelve month low of $0.68 and a twelve month high of $1.80. The stock has a fifty day moving average of $0.80 and a 200 day moving average of $0.95. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30.

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Institutional Trading of Assertio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASRT. XTX Topco Ltd acquired a new stake in Assertio during the third quarter valued at $203,000. GSA Capital Partners LLP purchased a new position in Assertio during the third quarter valued at $177,000. CM Management LLC lifted its holdings in Assertio by 23.1% during the fourth quarter. CM Management LLC now owns 400,000 shares of the company's stock valued at $348,000 after purchasing an additional 75,000 shares in the last quarter. Marshall Wace LLP purchased a new position in Assertio during the fourth quarter valued at $64,000. Finally, Wealthfront Advisers LLC purchased a new position in Assertio during the fourth quarter valued at $53,000. Institutional investors and hedge funds own 48.96% of the company's stock.

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.