Assertio (NASDAQ:ASRT) Coverage Initiated at HC Wainwright

Equities researchers at HC Wainwright started coverage on shares of Assertio (NASDAQ:ASRT) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $4.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 194.12% from the company’s previous close.

A number of other equities analysts have also recently commented on ASRT. Alliance Global Partners began coverage on Assertio in a research note on Tuesday, May 28th. They issued a “buy” rating and a $2.75 price target on the stock. StockNews.com downgraded shares of Assertio from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.44.

Assertio Price Performance

Shares of Assertio stock opened at $1.36 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 52-week low of $0.73 and a 52-week high of $5.78. The company has a fifty day moving average of $1.06 and a 200-day moving average of $0.97. The stock has a market capitalization of $129.36 million, a price-to-earnings ratio of -0.34 and a beta of 0.90.

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

Institutional Trading of Assertio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC lifted its position in shares of Assertio by 47.8% in the 4th quarter. Armistice Capital LLC now owns 5,800,000 shares of the company’s stock worth $6,206,000 after purchasing an additional 1,876,000 shares during the period. Vanguard Group Inc. lifted its holdings in Assertio by 0.8% in the first 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 during the period. Russell Investments Group Ltd. lifted its holdings 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 worth $2,251,000 after buying an additional 2,336,450 shares during the period. Kennedy Capital Management LLC boosted its position in Assertio by 8.5% during the 3rd quarter. Kennedy Capital Management LLC now owns 794,087 shares of the company’s stock valued at $2,033,000 after acquiring an additional 61,940 shares in the last quarter. Finally, Senvest Management LLC purchased a new position in shares of Assertio during the 4th quarter worth approximately $602,000. Hedge funds and other institutional investors own 48.96% of the company’s stock.

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.