Assertio (NASDAQ:ASRT) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Assertio (NASDAQ:ASRT) in a research report released on Monday,Benzinga reports. They currently have a $4.00 price objective on the stock.

Separately, StockNews.com upgraded shares of Assertio from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.

Assertio Stock Performance

ASRT opened at $1.01 on Monday. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is $1.08 and its two-hundred day moving average price is $1.17. The firm has a market capitalization of $96.43 million, a P/E ratio of -1.42 and a beta of 0.83. Assertio has a 12-month low of $0.73 and a 12-month high of $1.80.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. The business had revenue of $29.20 million for the quarter, compared to the consensus estimate of $29.29 million. During the same quarter last year, the company posted ($0.01) earnings per share. On average, equities analysts forecast that Assertio will post -0.17 earnings per share for the current year.

Insider Buying and Selling at Assertio

In related news, Director Heather L. Mason acquired 75,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $0.80 per share, with a total value of $60,000.00. Following the completion of the acquisition, the director now owns 287,650 shares of the company’s stock, valued at $230,120. This trade represents a 35.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Assertio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. raised its stake in Assertio by 304.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock worth $60,000 after acquiring an additional 38,000 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Assertio during the 2nd quarter worth about $77,000. Vanguard Group Inc. lifted its holdings in Assertio by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock valued at $4,719,000 after purchasing an additional 41,071 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Assertio in the second quarter valued at about $40,000. Finally, Renaissance Technologies LLC grew its stake in Assertio by 13.7% during the second quarter. Renaissance Technologies LLC now owns 2,377,614 shares of the company’s stock worth $2,948,000 after buying an additional 285,655 shares during the last quarter. Institutional investors own 48.96% of the company’s stock.

About Assertio

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.