Assertio (NASDAQ:ASRT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Assertio (NASDAQ:ASRT) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

Separately, Maxim Group began coverage on Assertio in a research report on Friday, July 26th. They set a “buy” rating and a $3.00 price target on the stock.

Assertio Price Performance

Shares of ASRT opened at $0.81 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.51 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $1.11 and its 200 day simple moving average is $1.18. The company has a market cap of $77.47 million, a price-to-earnings ratio of -1.11 and a beta of 0.83. Assertio has a 1-year low of $0.73 and a 1-year high of $1.80.

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, beating the consensus estimate of ($0.05) by $0.02. The business had revenue of $29.20 million during the quarter, compared to the consensus estimate of $29.29 million. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. During the same quarter last year, the firm posted ($0.01) EPS. On average, research analysts forecast that Assertio will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Empowered Funds LLC boosted its holdings in Assertio by 8.2% in the first quarter. Empowered Funds LLC now owns 380,417 shares of the company’s stock valued at $365,000 after acquiring an additional 28,809 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Assertio by 22,096.2% during the 1st 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of Assertio by 0.8% in the first quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock worth $4,719,000 after purchasing an additional 41,071 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Assertio by 10.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 161,171 shares of the company’s stock valued at $200,000 after acquiring an additional 15,779 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Assertio in the 2nd quarter worth about $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.