Assertio (NASDAQ:ASRT) Earns Buy Rating from Analysts at HC Wainwright

Analysts at HC Wainwright started coverage on shares of Assertio (NASDAQ:ASRT) in a research report issued on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 247.83% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Alliance Global Partners assumed coverage on Assertio in a research note on Tuesday, May 28th. They issued a “buy” rating and a $2.75 price target for the company. StockNews.com cut Assertio from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4.44.

Assertio Trading Down 3.4 %

Shares of ASRT stock opened at $1.15 on Wednesday. The stock’s fifty day moving average price is $1.04 and its two-hundred day moving average price is $0.96. The company has a market cap of $109.39 million, a PE ratio of -0.29 and a beta of 0.90. Assertio has a fifty-two week low of $0.73 and a fifty-two week high of $5.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.87.

Assertio (NASDAQ:ASRT) last issued its earnings results on Monday, May 6th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $32.45 million for the quarter, compared to the consensus estimate of $28.93 million. Assertio had a positive return on equity of 10.80% and a negative net margin of 234.40%. Equities analysts predict that Assertio will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ASRT. SG Americas Securities LLC raised its position in Assertio by 45.4% during the 4th quarter. SG Americas Securities LLC now owns 55,769 shares of the company’s stock worth $60,000 after purchasing an additional 17,417 shares during the last quarter. Denali Advisors LLC raised its position in shares of Assertio by 286.9% in the 1st quarter. Denali Advisors LLC now owns 165,200 shares of the company’s stock worth $158,000 after acquiring an additional 122,500 shares in the last quarter. TSP Capital Management Group LLC raised its position in shares of Assertio by 14.7% in the 4th quarter. TSP Capital Management Group LLC now owns 180,950 shares of the company’s stock worth $194,000 after acquiring an additional 23,150 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Assertio by 99.9% in the 3rd quarter. Alps Advisors Inc. now owns 110,594 shares of the company’s stock worth $283,000 after acquiring an additional 55,259 shares in the last quarter. Finally, Alethea Capital Management LLC bought a new position in shares of Assertio in the 3rd quarter worth about $343,000. 48.96% of the stock is owned by institutional investors.

Assertio Company Profile

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.