Assertio (NASDAQ:ASRT) Earns “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Assertio (NASDAQ:ASRT) in a research note issued to investors on Monday,Benzinga reports. HC Wainwright currently has a $4.00 price objective on the stock.

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

Assertio Price Performance

ASRT stock opened at $0.98 on Monday. The stock has a market capitalization of $93.33 million, a price-to-earnings ratio of -1.34 and a beta of 0.83. The company has a 50-day moving average of $1.07 and a two-hundred day moving average of $1.17. Assertio has a 52-week low of $0.73 and a 52-week 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 issued its quarterly earnings results on Monday, November 11th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $29.20 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned ($0.01) earnings per share. As a group, equities research analysts anticipate that Assertio will post -0.17 EPS for the current year.

Insider Transactions at Assertio

In related news, Director Heather L. Mason acquired 75,000 shares of the stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $0.80 per share, for a total transaction of $60,000.00. Following the transaction, the director now owns 287,650 shares of the company’s stock, valued at $230,120. The trade was a 35.27 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. SummerHaven Investment Management LLC lifted its stake in shares of Assertio by 10.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 161,171 shares of the company’s stock valued at $200,000 after purchasing an additional 15,779 shares during the period. Palumbo Wealth Management LLC increased its holdings in Assertio by 9.3% in the third 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. Empowered Funds LLC lifted its stake in Assertio by 5.4% in the third quarter. Empowered Funds LLC now owns 431,913 shares of the company’s stock valued at $510,000 after buying an additional 21,976 shares during the period. Captrust Financial Advisors bought a new position in Assertio during the third quarter worth about $26,000. Finally, Point72 DIFC Ltd bought a new position in Assertio during the second quarter worth about $40,000. 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.