Sidoti Csr Has Pessimistic Outlook of Assertio Q3 Earnings

Assertio Holdings, Inc. (NASDAQ:ASRT) – Research analysts at Sidoti Csr cut their Q3 2024 earnings estimates for Assertio in a note issued to investors on Wednesday, November 6th. Sidoti Csr analyst J. Sidoti now forecasts that the company will post earnings of ($0.04) per share for the quarter, down from their prior estimate of ($0.03). The consensus estimate for Assertio’s current full-year earnings is ($0.17) per share. Sidoti Csr also issued estimates for Assertio’s FY2024 earnings at ($0.16) EPS.

Separately, Maxim Group started coverage on Assertio in a research note on Friday, July 26th. They set a “buy” rating and a $3.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.25.

Assertio Stock Down 15.8 %

Shares of ASRT opened at $0.85 on Friday. The business’s fifty day moving average price is $1.15 and its two-hundred day moving average price is $1.17. The firm has a market capitalization of $81.04 million, a price-to-earnings ratio of -0.21 and a beta of 0.83. 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 0.29, a quick ratio of 1.51 and a current ratio of 1.93.

Assertio (NASDAQ:ASRT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Assertio had a positive return on equity of 4.88% and a negative net margin of 261.08%. The company had revenue of $31.13 million during the quarter, compared to the consensus estimate of $30.37 million. During the same quarter last year, the firm earned $0.13 EPS.

Hedge Funds Weigh In On Assertio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new position in shares of Assertio during the 2nd quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Assertio by 304.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock valued at $60,000 after purchasing an additional 38,000 shares during the period. Marshall Wace LLP bought a new stake in Assertio in the second quarter valued at approximately $70,000. Los Angeles Capital Management LLC bought a new stake in Assertio in the second quarter valued at approximately $77,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Assertio during the second quarter worth $149,000. 48.96% of the stock is owned by institutional investors.

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.