HC Wainwright Reaffirms Buy Rating for Assertio (NASDAQ:ASRT)

Assertio (NASDAQ:ASRT)‘s stock had its “buy” rating reissued by HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $4.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 308.58% from the company’s current price.

Separately, StockNews.com raised Assertio from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

Assertio Stock Performance

Shares of ASRT opened at $0.98 on Monday. The firm has a market cap of $93.47 million, a price-to-earnings ratio of -1.36 and a beta of 0.83. The company’s fifty day moving average is $1.07 and its 200-day moving average is $1.17. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30. Assertio has a 12 month low of $0.73 and a 12 month high of $1.80.

Assertio (NASDAQ:ASRT) last released its quarterly earnings results on Monday, November 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. The company had revenue of $29.20 million during the quarter, compared to the consensus estimate of $29.29 million. During the same quarter in the prior year, the company posted ($0.01) EPS. Equities analysts expect that Assertio will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Heather L. Mason purchased 75,000 shares of Assertio stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $0.80 per share, for a total transaction of $60,000.00. Following the completion of the transaction, the director now directly owns 287,650 shares in the company, valued at approximately $230,120. This represents a 35.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Assertio

Institutional investors and hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC lifted its holdings in Assertio by 10.9% during the 2nd 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 in the last quarter. Palumbo Wealth Management LLC raised its position in shares of Assertio by 9.3% during the third quarter. Palumbo Wealth Management LLC now owns 185,961 shares of the company’s stock worth $219,000 after acquiring an additional 15,863 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Assertio by 5.4% during the third quarter. Empowered Funds LLC now owns 431,913 shares of the company’s stock valued at $510,000 after acquiring an additional 21,976 shares during the period. Captrust Financial Advisors acquired a new position in shares of Assertio during the third quarter valued at $26,000. Finally, Point72 DIFC Ltd bought a new position in Assertio in the second quarter valued at about $40,000. 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.