Assertio Therapeutics Inc (ASRT) Gets a Buy Rating from Mizuho Securities

Mizuho Securities analyst Irina Rivkind Koffler maintained a Buy rating on Assertio Therapeutics Inc (NASDAQ: ASRT) yesterday and set a price target of $10. The company’s shares closed yesterday at $6.52.

Rivkind Koffler observed:

“We had previously modeled a total of $100M in settlement proceeds. On its 2Q:18 earnings call, mgmt hinted at a slightly lower cash settlement as it stated “…the settlement value will be some percentage of what we would possibly achieve assuming we won the case in court.” We had lowered our settlement estimate at that time from $250M to $100M (which still proved too high). However, it is unclear whether buy side expectations were even more bullish. We note that the cash shortfall does not meaningfully impact our Buy rating, which is more dependent on the success associated with the Synacthen Depot program.”

According to TipRanks.com, Koffler is a 5-star analyst with an average return of 12.3% and a 48.4% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Eagle Pharmaceuticals Inc, and Pacira Pharmaceuticals.

Assertio Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $9.

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Based on Assertio Therapeutics Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $21.05 million. In comparison, last year the company had a GAAP net loss of $26.66 million.

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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.

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