Thurston Springer Miller Herd & Titak Inc. Acquires 38,000 Shares of Assertio Holdings, Inc. (NASDAQ:ASRT)

Thurston Springer Miller Herd & Titak Inc. raised its holdings in Assertio Holdings, Inc. (NASDAQ:ASRT) by 304.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,500 shares of the company’s stock after purchasing an additional 38,000 shares during the period. Thurston Springer Miller Herd & Titak Inc. owned approximately 0.05% of Assertio worth $60,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings 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 worth $2,251,000 after acquiring an additional 2,336,450 shares during the period. Empowered Funds LLC lifted its holdings in shares of Assertio by 8.2% during the 1st quarter. Empowered Funds LLC now owns 380,417 shares of the company’s stock worth $365,000 after acquiring an additional 28,809 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Assertio during the 2nd quarter worth approximately $77,000. Vanguard Group Inc. lifted its holdings in shares of Assertio by 0.8% during the 1st 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 during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of Assertio during the 2nd quarter worth approximately $40,000. Institutional investors own 48.96% of the company’s stock.

Assertio Price Performance

Shares of NASDAQ:ASRT opened at $1.13 on Wednesday. The company has a market cap of $107.49 million, a price-to-earnings ratio of -0.29 and a beta of 0.79. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.93 and a quick ratio of 1.51. The firm has a 50 day simple moving average of $1.19 and a 200 day simple moving average of $1.15. Assertio Holdings, Inc. has a one year low of $0.73 and a one year high of $2.53.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Assertio had a negative net margin of 261.08% and a positive return on equity of 4.88%. The business had revenue of $31.13 million during the quarter, compared to analyst estimates of $30.37 million. During the same quarter last year, the company posted $0.13 earnings per share. Research analysts predict that Assertio Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. HC Wainwright assumed coverage on shares of Assertio in a report on Wednesday, July 3rd. They set a “buy” rating and a $4.00 price target for the company. Maxim Group began coverage on shares of Assertio in a research note on Friday, July 26th. They issued a “buy” rating and a $3.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.44.

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.