Assertio Holdings, Inc. (NASDAQ:ASRT) Given Average Recommendation of “Buy” by Brokerages

Assertio Holdings, Inc. (NASDAQ:ASRT) has received a consensus recommendation of “Buy” from the four ratings firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have covered the stock in the last year is $3.44.

A number of research analysts recently commented on ASRT shares. Maxim Group assumed coverage on Assertio in a research note on Friday, July 26th. They set a “buy” rating and a $3.00 price objective for the company. HC Wainwright assumed coverage on shares of Assertio in a report on Wednesday, July 3rd. They issued a “buy” rating and a $4.00 price target for the company.

Assertio Stock Down 2.7 %

Shares of NASDAQ:ASRT opened at $1.10 on Wednesday. The firm has a market cap of $104.64 million, a PE ratio of -0.28 and a beta of 0.79. The company has a fifty day simple moving average of $1.21 and a 200 day simple moving average of $1.15. The company has a current ratio of 1.93, a quick ratio of 1.51 and a debt-to-equity ratio of 0.29. Assertio has a 12-month low of $0.73 and a 12-month high of $2.60.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $31.13 million for the quarter, compared to analyst estimates of $30.37 million. Assertio had a negative net margin of 261.08% and a positive return on equity of 4.88%. During the same quarter in the previous year, the company earned $0.13 EPS. On average, equities research analysts anticipate that Assertio will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Assertio

Institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new stake in shares of Assertio during the second quarter worth $40,000. Marshall Wace LLP purchased a new stake in shares of Assertio during the 2nd quarter worth about $70,000. Los Angeles Capital Management LLC acquired a new stake in shares of Assertio during the 2nd quarter valued at about $77,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Assertio in the 2nd quarter valued at approximately $149,000. Finally, Denali Advisors LLC increased its holdings in Assertio by 286.9% in the first quarter. Denali Advisors LLC now owns 165,200 shares of the company’s stock worth $158,000 after buying an additional 122,500 shares during the last quarter. Institutional investors and hedge funds 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.