Assertio Holdings, Inc. (NASDAQ:ASRT) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in Assertio Holdings, Inc. (NASDAQ:ASRT) by 13.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,377,614 shares of the company’s stock after purchasing an additional 285,655 shares during the quarter. Renaissance Technologies LLC owned 2.50% of Assertio worth $2,948,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Perritt Capital Management Inc raised its holdings in Assertio by 16.1% in the 2nd quarter. Perritt Capital Management Inc now owns 426,850 shares of the company’s stock worth $529,000 after purchasing an additional 59,333 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Assertio during the second quarter worth $77,000. SummerHaven Investment Management LLC boosted its position 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 worth $200,000 after buying an additional 15,779 shares during the period. Vanguard Group Inc. boosted its holdings in Assertio by 0.8% in the first 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 period. Finally, Russell Investments Group Ltd. boosted its holdings in Assertio by 22,096.2% in the first quarter. Russell Investments Group Ltd. now owns 2,347,024 shares of the company’s stock valued at $2,251,000 after purchasing an additional 2,336,450 shares during the period. Institutional investors and hedge funds own 48.96% of the company’s stock.

Assertio Stock Performance

NASDAQ ASRT opened at $1.18 on Tuesday. Assertio Holdings, Inc. has a 52-week low of $0.73 and a 52-week high of $2.60. The business’s 50-day moving average price is $1.26 and its 200 day moving average price is $1.15. The firm has a market cap of $112.25 million, a P/E ratio of -0.29 and a beta of 0.79. The company has a quick ratio of 1.51, a current ratio of 1.93 and a debt-to-equity ratio of 0.29.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $31.13 million for the quarter, compared to analysts’ expectations of $30.37 million. During the same period last year, the firm earned $0.13 EPS. On average, equities research analysts expect that Assertio Holdings, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. HC Wainwright initiated coverage on Assertio in a report on Wednesday, July 3rd. They issued a “buy” rating and a $4.00 target price for the company. Maxim Group started coverage on Assertio in a research report on Friday, July 26th. They set a “buy” rating and a $3.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.44.

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.