Point72 DIFC Ltd Takes Position in Assertio Holdings, Inc. (NASDAQ:ASRT)

Point72 DIFC Ltd bought a new stake in shares of Assertio Holdings, Inc. (NASDAQ:ASRT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 31,929 shares of the company’s stock, valued at approximately $40,000.

Several other hedge funds have also modified their holdings of the stock. SummerHaven Investment Management LLC lifted its holdings in shares of Assertio by 10.9% during the second quarter. SummerHaven Investment Management LLC now owns 161,171 shares of the company’s stock valued at $200,000 after purchasing an additional 15,779 shares during the last quarter. Empowered Funds LLC raised its position in Assertio by 8.2% during the first quarter. Empowered Funds LLC now owns 380,417 shares of the company’s stock valued at $365,000 after buying an additional 28,809 shares during the period. TSP Capital Management Group LLC raised its position in Assertio by 18.5% during the first quarter. TSP Capital Management Group LLC now owns 214,500 shares of the company’s stock valued at $206,000 after buying an additional 33,550 shares during the period. Vanguard Group Inc. raised its position in Assertio by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock valued at $4,719,000 after buying an additional 41,071 shares during the period. Finally, Marshall Wace LLP acquired a new position in Assertio during the second quarter valued at $70,000. 48.96% of the stock is owned by hedge funds and other institutional investors.

Assertio Price Performance

NASDAQ ASRT opened at $1.18 on Monday. The company has a quick ratio of 1.51, a current ratio of 1.93 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $112.25 million, a PE ratio of -0.30 and a beta of 0.79. Assertio Holdings, Inc. has a 12-month low of $0.73 and a 12-month high of $2.70. The company has a 50 day moving average price of $1.26 and a two-hundred day moving average price of $1.15.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Assertio had a positive return on equity of 4.88% and a negative net margin of 261.08%. The business had revenue of $31.13 million during the quarter, compared to the consensus estimate of $30.37 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. As a group, equities analysts predict that Assertio Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on ASRT. HC Wainwright began coverage on Assertio in a research report on Wednesday, July 3rd. They set a “buy” rating and a $4.00 price target on the stock. Maxim Group began coverage on Assertio in a research report on Friday, July 26th. They set a “buy” rating and a $3.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3.44.

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.