Assertio (NASDAQ:ASRT) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Assertio (NASDAQ:ASRT) issued its earnings results on Monday. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02, Zacks reports. Assertio had a negative net margin of 261.08% and a positive return on equity of 4.88%. The company had revenue of $29.20 million for the quarter, compared to analysts’ expectations of $29.29 million. During the same period in the prior year, the firm earned ($0.01) EPS.

Assertio Stock Performance

ASRT traded down $0.07 during trading on Tuesday, hitting $0.85. The stock had a trading volume of 1,704,145 shares, compared to its average volume of 932,166. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.93 and a quick ratio of 1.51. The company has a 50 day moving average price of $1.14 and a 200-day moving average price of $1.18. Assertio has a one year low of $0.73 and a one year high of $1.80. The firm has a market cap of $81.23 million, a price-to-earnings ratio of -0.21 and a beta of 0.83.

Analysts Set New Price Targets

Separately, Maxim Group began coverage on Assertio in a research report on Friday, July 26th. They issued a “buy” rating and a $3.00 price objective for the company. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $3.25.

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.