Assertio Holdings, Inc. (NASDAQ:ASRT) Receives Average Rating of “Buy” from Analysts

Assertio Holdings, Inc. (NASDAQ:ASRT) has been given a consensus rating of “Buy” by the four research firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have covered the stock in the last year is $3.44.

ASRT has been the subject of a number of recent analyst reports. Alliance Global Partners assumed coverage on Assertio in a report on Tuesday, May 28th. They set a “buy” rating and a $2.75 target price for the company. HC Wainwright assumed coverage on shares of Assertio in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $4.00 target price on the stock. Finally, Maxim Group initiated coverage on shares of Assertio in a report on Friday, July 26th. They issued a “buy” rating and a $3.00 price target for the company.

Assertio Stock Performance

NASDAQ ASRT opened at $1.30 on Friday. The company’s 50 day moving average is $1.31 and its 200-day moving average is $1.14. The firm has a market cap of $123.66 million, a P/E ratio of -0.33 and a beta of 0.79. Assertio has a 12-month low of $0.73 and a 12-month high of $2.70. The company has a quick ratio of 1.51, a current ratio of 1.93 and a debt-to-equity ratio of 0.29.

Assertio (NASDAQ:ASRT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.04) earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $30.37 million. During the same quarter in the prior year, the company earned $0.13 EPS. Sell-side analysts predict that Assertio will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Assertio

Institutional investors have recently made changes to their positions in the stock. Armistice Capital LLC grew its position in Assertio by 47.8% in the fourth quarter. Armistice Capital LLC now owns 5,800,000 shares of the company’s stock worth $6,206,000 after acquiring an additional 1,876,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Assertio by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock worth $4,719,000 after purchasing an additional 41,071 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Assertio by 13.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,377,614 shares of the company’s stock worth $2,948,000 after purchasing an additional 285,655 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Assertio by 22,096.2% during the 1st quarter. Russell Investments Group Ltd. now owns 2,347,024 shares of the company’s stock valued at $2,251,000 after purchasing an additional 2,336,450 shares during the last quarter. Finally, Perritt Capital Management Inc raised its holdings in shares of Assertio by 16.1% during the 2nd quarter. Perritt Capital Management Inc now owns 426,850 shares of the company’s stock valued at $529,000 after buying an additional 59,333 shares in the last quarter. 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.