FY2024 EPS Estimates for Assertio Raised by HC Wainwright

Assertio Holdings, Inc. (NASDAQ:ASRT) – Research analysts at HC Wainwright increased their FY2024 earnings per share estimates for Assertio in a report issued on Monday, November 25th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($0.15) for the year, up from their previous forecast of ($0.19). HC Wainwright has a “Buy” rating and a $4.00 price target on the stock. The consensus estimate for Assertio’s current full-year earnings is ($0.15) per share. HC Wainwright also issued estimates for Assertio’s Q4 2024 earnings at ($0.04) EPS and Q1 2025 earnings at ($0.03) EPS.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $29.20 million during the quarter, compared to analyst estimates of $29.29 million. During the same period last year, the company posted ($0.01) EPS.

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

Assertio Stock Up 2.3 %

Shares of ASRT stock opened at $1.00 on Thursday. The stock’s 50 day simple moving average is $1.05 and its 200 day simple moving average is $1.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.57 and a current ratio of 2.01. Assertio has a twelve month low of $0.73 and a twelve month high of $1.80. The company has a market capitalization of $95.48 million, a price-to-earnings ratio of -1.37 and a beta of 0.83.

Insider Buying and Selling at Assertio

In other news, Director Heather L. Mason bought 75,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was bought at an average price 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 $230,120. The trade was a 35.27 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Assertio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. grew its stake in Assertio by 304.0% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock valued at $60,000 after acquiring an additional 38,000 shares during the period. Los Angeles Capital Management LLC bought a new stake in Assertio during the second quarter worth about $77,000. Vanguard Group Inc. raised its holdings in Assertio by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock worth $4,719,000 after acquiring an additional 41,071 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Assertio during the second quarter worth about $40,000. Finally, Renaissance Technologies LLC raised its stake in 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 buying an additional 285,655 shares during the period. Institutional investors 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.