Assertio Holdings, Inc. (NASDAQ:ASRT – Free Report) – HC Wainwright increased their FY2024 earnings per share estimates for Assertio in a research report issued to clients and investors on Monday, November 25th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings of ($0.15) per share for the year, up from their previous estimate of ($0.19). HC Wainwright has a “Buy” rating and a $4.00 price objective on the stock. The consensus estimate for Assertio’s current full-year earnings is ($0.17) per share. HC Wainwright also issued estimates for Assertio’s Q4 2024 earnings at ($0.04) EPS and Q1 2025 earnings at ($0.03) EPS.
Separately, StockNews.com upgraded Assertio from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.
Assertio Price Performance
Assertio stock opened at $0.98 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.57 and a debt-to-equity ratio of 0.30. The business’s 50 day simple moving average is $1.06 and its 200 day simple moving average is $1.17. Assertio has a 12 month low of $0.73 and a 12 month high of $1.80. The company has a market cap of $93.33 million, a price-to-earnings ratio of -1.34 and a beta of 0.83.
Assertio (NASDAQ:ASRT – Get Free Report) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate 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 business had revenue of $29.20 million for the quarter, compared to analyst estimates of $29.29 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share.
Insider Activity at Assertio
In related news, Director Heather L. Mason purchased 75,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average cost of $0.80 per share, with a total value of $60,000.00. Following the completion of the acquisition, the director now directly owns 287,650 shares of the company’s stock, valued at approximately $230,120. The trade was a 35.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 3.20% of the stock is owned by company insiders.
Institutional Trading of Assertio
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased 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 valued at $4,719,000 after buying an additional 41,071 shares during the period. Renaissance Technologies LLC grew its stake in Assertio by 13.7% during the second quarter. Renaissance Technologies LLC now owns 2,377,614 shares of the company’s stock valued at $2,948,000 after acquiring an additional 285,655 shares in the last quarter. Geode Capital Management LLC increased its holdings in Assertio by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,074,852 shares of the company’s stock worth $1,269,000 after acquiring an additional 42,750 shares during the period. Empowered Funds LLC lifted its stake in Assertio by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 431,913 shares of the company’s stock worth $510,000 after purchasing an additional 21,976 shares in the last quarter. Finally, Perritt Capital Management Inc boosted its holdings in Assertio by 16.1% in the 2nd quarter. Perritt Capital Management Inc now owns 426,850 shares of the company’s stock valued at $529,000 after purchasing an additional 59,333 shares during the period. 48.96% of the stock is currently owned by institutional investors.
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.
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