Assertio (NASDAQ:ASRT) Now Covered by Maxim Group

Investment analysts at Maxim Group initiated coverage on shares of Assertio (NASDAQ:ASRT) in a research note issued to investors on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $3.00 price target on the stock. Maxim Group’s price target would indicate a potential upside of 104.08% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. StockNews.com downgraded shares of Assertio from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Alliance Global Partners began coverage on shares of Assertio in a research report on Tuesday, May 28th. They set a “buy” rating and a $2.75 price target for the company. Finally, HC Wainwright began coverage on shares of Assertio in a research report on Wednesday, July 3rd. They set a “buy” rating and a $4.00 price target for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.15.

Assertio Stock Down 3.3 %

Shares of NASDAQ:ASRT opened at $1.47 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.87 and a debt-to-equity ratio of 0.29. Assertio has a 52-week low of $0.73 and a 52-week high of $5.78. The company has a 50 day moving average of $1.24 and a two-hundred day moving average of $1.03. The company has a market capitalization of $139.83 million, a price-to-earnings ratio of -0.37 and a beta of 0.90.

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

Hedge Funds Weigh In On Assertio

A number of hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC boosted its holdings in Assertio by 10.9% in the second quarter. SummerHaven Investment Management LLC now owns 161,171 shares of the company’s stock worth $200,000 after purchasing an additional 15,779 shares during the period. Vanguard Group Inc. lifted its stake in Assertio by 0.8% in the first quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock valued at $4,719,000 after buying an additional 41,071 shares during the last quarter. Russell Investments Group Ltd. lifted 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 buying an additional 2,336,450 shares during the last quarter. Empowered Funds LLC lifted its stake in Assertio by 8.2% in the first quarter. Empowered Funds LLC now owns 380,417 shares of the company’s stock valued at $365,000 after buying an additional 28,809 shares during the last quarter. Finally, TSP Capital Management Group LLC lifted its stake in Assertio by 18.5% in the first quarter. TSP Capital Management Group LLC now owns 214,500 shares of the company’s stock valued at $206,000 after buying an additional 33,550 shares during the last quarter. Institutional investors and hedge funds 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.