Mizuho Securities Remains a Hold on Assertio Therapeutics Inc (ASRT)

By Austin Angelo

In a report released today, Irina Rivkind Koffler from Mizuho Securities reiterated a Hold rating on Assertio Therapeutics Inc (ASRTResearch Report), with a price target of $6. The company’s shares opened today at $4.16, close to its 52-week low of $3.37.

Rivkind Koffler noted:

“We are less optimistic but could see future pricing upside later in the quarter (no 2019 price increases for Cambia, Zipsor, or Gralise as of yet). We were relieved to hear that there was no increased payer pressure on acute migraine drug, Cambia, which may have positive read-throughs to other migraine products we cover. The company plans to redouble its efforts on business development in 2019 and to refinance its senior secured debt. It may also attempt to monetize its royalty on the Ironwood GERD asset. Lastly, mgmt. continues to have encouraging discussions with large payers on Synacthen Depot and indicated that plans could see past its limited label if there was adequate safety data presented in the compendium. We expect the stock to get more interesting closer to Synacthen Depot approval in late 2019.”

According to TipRanks.com, Koffler is a 4-star analyst with an average return of 5.2% and a 40.5% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Eagle Pharmaceuticals Inc, and Supernus Pharmaceuticals.

Currently, the analyst consensus on Assertio Therapeutics Inc is a Moderate Buy with an average price target of $6.63.

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The company has a one-year high of $9.48 and a one-year low of $3.37. Currently, Assertio Therapeutics Inc has an average volume of 919.6K.

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Assertio Therapeutics, Inc. engages in the manufacture and distribution of pharmaceutical products to treat pain and other central nervous system conditions. Its brands include Gralise, Zipsor, Lazanda, Cambia, NUCYNTA ER and NUCYNTA. The company was founded by John W. Shell on August 7, 1995 and is headquartered in Lake Forest, IL.