Assertio (NASDAQ:ASRT) Earns Buy Rating from Analysts at HC Wainwright

Investment analysts at HC Wainwright assumed coverage on shares of Assertio (NASDAQ:ASRT) in a research report issued on Wednesday, Briefing.com reports. The firm set a “buy” rating and a $4.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 247.83% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. StockNews.com cut Assertio from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Alliance Global Partners began coverage on Assertio in a report on Tuesday, May 28th. They issued a “buy” rating and a $2.75 price target for the company. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.44.

Assertio Stock Down 3.4 %

Shares of NASDAQ:ASRT opened at $1.15 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.87. Assertio has a 1 year low of $0.73 and a 1 year high of $5.78. The stock has a market capitalization of $109.39 million, a P/E ratio of -0.29 and a beta of 0.90. The stock has a 50-day simple moving average of $1.04 and a 200-day simple moving average of $0.96.

Assertio (NASDAQ:ASRT) last issued its earnings results on Monday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Assertio had a positive return on equity of 10.80% and a negative net margin of 234.40%. The business had revenue of $32.45 million during the quarter, compared to analysts’ expectations of $28.93 million. Equities analysts forecast that Assertio will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Assertio

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Assertio by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock valued at $4,719,000 after purchasing an additional 41,071 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of 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 acquiring an additional 2,336,450 shares in the last quarter. Empowered Funds LLC raised its position in shares of Assertio by 8.2% during the 1st 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 in the last quarter. TSP Capital Management Group LLC raised its position in shares of Assertio by 18.5% during the 1st quarter. TSP Capital Management Group LLC now owns 214,500 shares of the company’s stock valued at $206,000 after acquiring an additional 33,550 shares in the last quarter. Finally, Denali Advisors LLC raised its position in shares of Assertio by 286.9% during the 1st quarter. Denali Advisors LLC now owns 165,200 shares of the company’s stock valued at $158,000 after acquiring an additional 122,500 shares in the last quarter. 48.96% of the stock is owned by institutional investors and hedge funds.

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.