Sidoti Csr Forecasts Assertio’s Q3 Earnings (NASDAQ:ASRT)

Assertio Holdings, Inc. (NASDAQ:ASRT) – Equities researchers at Sidoti Csr dropped their Q3 2024 EPS estimates for shares of Assertio in a research note issued on Wednesday, November 6th. Sidoti Csr analyst J. Sidoti now forecasts that the company will post earnings per share of ($0.04) for the quarter, down from their prior estimate of ($0.03). The consensus estimate for Assertio’s current full-year earnings is ($0.17) per share. Sidoti Csr also issued estimates for Assertio’s FY2024 earnings at ($0.16) EPS.

Separately, Maxim Group began 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 investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $3.25.

Assertio Trading Down 15.8 %

Shares of Assertio stock opened at $0.85 on Friday. The company’s fifty day simple moving average is $1.15 and its 200-day simple moving average is $1.17. Assertio has a 1 year low of $0.73 and a 1 year high of $1.80. The company has a current ratio of 1.93, a quick ratio of 1.51 and a debt-to-equity ratio of 0.29. The company has a market cap of $81.04 million, a price-to-earnings ratio of -0.21 and a beta of 0.83.

Assertio (NASDAQ:ASRT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $31.13 million for the quarter, compared to analyst estimates of $30.37 million. Assertio had a positive return on equity of 4.88% and a negative net margin of 261.08%. During the same period in the prior year, the firm posted $0.13 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in shares of Assertio by 22,096.2% during the 1st quarter. Russell Investments Group Ltd. now owns 2,347,024 shares of the company’s stock worth $2,251,000 after purchasing an additional 2,336,450 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Assertio by 13.7% in the second quarter. Renaissance Technologies LLC now owns 2,377,614 shares of the company’s stock valued at $2,948,000 after acquiring an additional 285,655 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Assertio in the 3rd quarter worth approximately $177,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Assertio during the 2nd quarter worth approximately $149,000. Finally, Los Angeles Capital Management LLC bought a new stake in Assertio during the 2nd quarter worth approximately $77,000. 48.96% of the stock is currently owned by institutional investors and hedge funds.

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.