Point72 Asia Singapore Pte. Ltd. Takes Position in Assertio Holdings, Inc. (NASDAQ:ASRT)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Assertio Holdings, Inc. (NASDAQ:ASRT) during the second quarter, Holdings Channel reports. The firm acquired 120,088 shares of the company’s stock, valued at approximately $149,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Assertio by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock worth $4,719,000 after buying an additional 41,071 shares in the last quarter. Renaissance Technologies LLC grew its position in Assertio by 13.7% in the second quarter. Renaissance Technologies LLC now owns 2,377,614 shares of the company’s stock worth $2,948,000 after acquiring an additional 285,655 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Assertio by 22,096.2% in the first 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 during the last quarter. Perritt Capital Management Inc raised its position in Assertio by 16.1% during the second quarter. Perritt Capital Management Inc now owns 426,850 shares of the company’s stock valued at $529,000 after purchasing an additional 59,333 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Assertio by 8.2% during the first quarter. Empowered Funds LLC now owns 380,417 shares of the company’s stock worth $365,000 after purchasing an additional 28,809 shares during the last quarter. Hedge funds and other institutional investors own 48.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Maxim Group assumed coverage on Assertio in a research report on Friday, July 26th. They set a “buy” rating and a $3.00 price objective on the stock. HC Wainwright started coverage on shares of Assertio in a research note on Wednesday, July 3rd. They set a “buy” rating and a $4.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.44.

Assertio Trading Down 2.7 %

Shares of ASRT stock opened at $1.09 on Friday. The business has a 50-day moving average of $1.23 and a 200 day moving average of $1.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.93 and a quick ratio of 1.51. Assertio Holdings, Inc. has a 1-year low of $0.73 and a 1-year high of $2.60. The stock has a market capitalization of $103.69 million, a PE ratio of -0.28 and a beta of 0.79.

Assertio (NASDAQ:ASRT) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $31.13 million for the quarter, compared to analysts’ expectations of $30.37 million. During the same period last year, the company posted $0.13 EPS. As a group, sell-side analysts anticipate that Assertio Holdings, Inc. will post -0.17 earnings per share for the current year.

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.