Assertio (NASDAQ:ASRT) Posts Quarterly Earnings Results

Assertio (NASDAQ:ASRT) posted its quarterly 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 during the quarter, compared to the consensus estimate of $29.29 million. During the same period last year, the firm earned ($0.01) EPS.

Assertio Stock Performance

Shares of NASDAQ:ASRT traded down $0.07 during trading hours 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 stock’s fifty day simple moving average is $1.14 and its 200 day simple moving average is $1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.51 and a current ratio of 1.93. The firm has a market capitalization of $81.23 million, a price-to-earnings ratio of -0.21 and a beta of 0.83. Assertio has a 1-year low of $0.73 and a 1-year high of $1.80.

Analyst Upgrades and Downgrades

Separately, Maxim Group assumed coverage on shares of Assertio in a report on Friday, July 26th. They set a “buy” rating and a $3.00 price target for the company. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Assertio presently has an average rating of “Moderate Buy” and a consensus 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.