Assertio (NASDAQ:ASRT) Rating Increased to Buy at Zacks Investment Research

Assertio (NASDAQ:ASRT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The brokerage presently has a $2.00 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 4.17% from the company’s current price.

According to Zacks, “Assertio Holdings Inc. is a specialty pharmaceutical company. Its portfolio consists of branded prescription neurology, inflammation and pain medications. The company’s business development includes acquisitions, licensing and mergers. Assertio Holdings Inc., formerly known as Assertio Therapeutics Inc., is based in LAKE FOREST, Ill. “

Separately, Gabelli raised shares of Assertio from a “hold” rating to a “buy” rating in a report on Tuesday, April 13th.

ASRT opened at $1.92 on Wednesday. The business has a 50 day simple moving average of $0.97. The company has a market cap of $83.42 million, a P/E ratio of -0.79 and a beta of 1.51. Assertio has a 12 month low of $1.32 and a 12 month high of $5.80. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.06 and a current ratio of 1.14.

Assertio (NASDAQ:ASRT) last released its quarterly earnings data on Thursday, March 11th. The company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.16). The business had revenue of $30.18 million during the quarter, compared to the consensus estimate of $27.65 million. Assertio had a negative return on equity of 80.60% and a negative net margin of 57.78%. As a group, equities analysts anticipate that Assertio will post -0.04 earnings per share for the current year.

A number of large investors have recently made changes to their positions in ASRT. Mariner LLC boosted its holdings in Assertio by 562.5% in the 4th quarter. Mariner LLC now owns 2,650,000 shares of the company’s stock valued at $948,000 after purchasing an additional 2,250,000 shares during the period. BlackRock Inc. boosted its holdings in Assertio by 152.0% in the 1st quarter. BlackRock Inc. now owns 3,723,251 shares of the company’s stock valued at $2,541,000 after purchasing an additional 2,245,912 shares during the period. Vontobel Holding Ltd. bought a new position in Assertio in the 1st quarter valued at $205,000. Geode Capital Management LLC boosted its holdings in Assertio by 73.9% in the 1st quarter. Geode Capital Management LLC now owns 1,388,202 shares of the company’s stock valued at $947,000 after purchasing an additional 589,866 shares during the period. Finally, Northern Trust Corp boosted its holdings in Assertio by 72.8% in the 1st quarter. Northern Trust Corp now owns 301,393 shares of the company’s stock valued at $206,000 after purchasing an additional 126,978 shares during the period. 19.51% of the stock is owned by hedge funds and other institutional investors.

About Assertio

Assertio Holdings, Inc, a commercial pharmaceutical company, provides medicines in the areas of neurology, hospital, and pain and inflammation. The company's pharmaceutical products include INDOCIN, an oral solution and a suppository form for the treatment of moderate to severe rheumatoid arthritis, including acute flares of chronic disease; moderate to severe ankylosing spondylitis and osteoarthritis; and acute painful shoulder and gouty arthritis.

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