Assertio (NASDAQ:ASRT) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Assertio (NASDAQ:ASRT) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

Separately, Maxim Group began coverage on Assertio in a research note on Friday, July 26th. They issued a “buy” rating and a $3.00 price objective on the stock.

Assertio Price Performance

Shares of Assertio stock opened at $0.81 on Wednesday. The business’s fifty day moving average price is $1.11 and its 200 day moving average price is $1.18. The company has a current ratio of 2.01, a quick ratio of 1.51 and a debt-to-equity ratio of 0.30. Assertio has a twelve month low of $0.73 and a twelve month high of $1.80. The stock has a market capitalization of $77.47 million, a P/E ratio of -1.11 and a beta of 0.83.

Assertio (NASDAQ:ASRT) last released its quarterly earnings results on Monday, November 11th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $29.20 million during the quarter, compared to the consensus estimate of $29.29 million. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. During the same quarter last year, the company earned ($0.01) earnings per share. As a group, research analysts anticipate that Assertio will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Assertio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors acquired a new stake in Assertio during the third quarter worth about $26,000. Point72 DIFC Ltd acquired a new stake in shares of Assertio in the second quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Assertio by 304.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock worth $60,000 after acquiring an additional 38,000 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Assertio in the 2nd quarter valued at about $70,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Assertio in the 2nd quarter valued at $77,000. 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.