Assertio’s (ASRT) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Assertio (NASDAQ:ASRT) in a research note released on Monday,Benzinga reports. They currently have a $4.00 price target on the stock.

Separately, StockNews.com upgraded shares of Assertio from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.

Assertio Stock Performance

Shares of Assertio stock opened at $0.94 on Monday. The stock has a market cap of $89.75 million, a price-to-earnings ratio of -1.29 and a beta of 0.82. The firm’s 50-day moving average is $1.01 and its 200 day 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 debt-to-equity ratio of 0.30, a current ratio of 2.01 and a quick ratio of 1.57.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings results on Monday, November 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $29.20 million for the quarter, compared to analysts’ expectations of $29.29 million. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. During the same quarter in the previous year, the business posted ($0.01) EPS. Sell-side analysts anticipate that Assertio will post -0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Assertio news, Director Heather L. Mason purchased 75,000 shares of Assertio stock in a transaction dated Monday, November 18th. The stock was purchased at an average price of $0.80 per share, with a total value of $60,000.00. Following the transaction, the director now directly owns 287,650 shares of the company’s stock, valued at $230,120. This trade represents a 35.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Assertio

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in shares of Assertio by 13.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,377,614 shares of the company’s stock valued at $2,948,000 after purchasing an additional 285,655 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Assertio by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,074,852 shares of the company’s stock valued at $1,269,000 after purchasing an additional 42,750 shares during the last quarter. Empowered Funds LLC increased its position in shares of Assertio by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 431,913 shares of the company’s stock valued at $510,000 after purchasing an additional 21,976 shares during the last quarter. Perritt Capital Management Inc increased its position in shares of Assertio by 16.1% during the 2nd quarter. Perritt Capital Management Inc now owns 426,850 shares of the company’s stock valued at $529,000 after purchasing an additional 59,333 shares during the last quarter. Finally, Palumbo Wealth Management LLC increased its position in shares of Assertio by 9.3% during the 3rd quarter. Palumbo Wealth Management LLC now owns 185,961 shares of the company’s stock valued at $219,000 after purchasing an additional 15,863 shares during the last quarter. Hedge funds and other institutional investors own 48.96% of the company’s stock.

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.