StockNews.com Upgrades Assertio (NASDAQ:ASRT) to Buy

StockNews.com upgraded shares of Assertio (NASDAQ:ASRT) from a hold rating to a buy rating in a research note released on Wednesday.

Separately, Maxim Group initiated 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.

Assertio Stock Down 3.6 %

Shares of NASDAQ ASRT opened at $0.81 on Wednesday. The company’s 50-day simple moving average is $1.11 and its 200-day simple moving average is $1.17. The company has a quick ratio of 1.51, a current ratio of 2.01 and a debt-to-equity ratio of 0.30. The firm has a market cap of $77.47 million, a price-to-earnings ratio of -1.11 and a beta of 0.83. Assertio has a 52-week low of $0.73 and a 52-week high of $1.80.

Assertio (NASDAQ:ASRT) last issued its earnings results on Monday, November 11th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. The company had revenue of $29.20 million for the quarter, compared to the consensus estimate of $29.29 million. During the same period in the previous year, the firm earned ($0.01) earnings per share. Equities analysts predict that Assertio will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Assertio

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of 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 in the last quarter. Renaissance Technologies LLC lifted its holdings in Assertio by 13.7% in the second 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 during the period. Russell Investments Group Ltd. lifted its holdings in Assertio by 22,096.2% in the 1st quarter. Russell Investments Group Ltd. now owns 2,347,024 shares of the company’s stock valued at $2,251,000 after acquiring an additional 2,336,450 shares during the last quarter. Empowered Funds LLC lifted its holdings in Assertio by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 431,913 shares of the company’s stock valued at $510,000 after acquiring an additional 21,976 shares during the last quarter. Finally, Perritt Capital Management Inc raised its holdings in Assertio by 16.1% during the 2nd quarter. Perritt Capital Management Inc now owns 426,850 shares of the company’s stock worth $529,000 after buying an additional 59,333 shares during the period. 48.96% of the stock is owned by institutional investors and hedge funds.

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.