Mizuho Securities Downgrades Assertio Therapeutics (ASRT) to Neutral

November 30, 2018 5:14 AM EST
Get Alerts ASRT Hot Sheet
Price: $1.33 +3.10%

Rating Summary:
    7 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 26 | New: 45
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Mizuho Securities analyst Irina Koffler downgraded Assertio Therapeutics (NASDAQ: ASRT) from Buy to Neutral with a price target of $7.00 (from $9.00).

The analyst comments "While the amended Nucynta royalty agreement with Collegium removes an overhang on the stock, we see limited one-year upside to ASRT and fall below 2019 consensus revenue estimates ahead of the Synacthen Depot launch. We lowered EBITDA estimates by an average of 15% from 2018-2026 due to lower Nucynta royalties and a more conservative outlook on Assertio's neurology portfolio. That said, we continue to believe in the commercial opportunity for Synacthen Depot, though we model it as a small, slow-ramping product launching in 2020."

For an analyst ratings summary and ratings history on Assertio Therapeutics click here. For more ratings news on Assertio Therapeutics click here.

Shares of Assertio Therapeutics closed at $5.21 yesterday.



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