Assertio’s (ASRT) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Assertio (NASDAQ:ASRT) in a report issued on Monday morning,Benzinga reports. They currently have a $4.00 price objective on the stock.

Separately, StockNews.com upgraded Assertio from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

Assertio Stock Performance

Shares of Assertio stock opened at $0.87 on Monday. The firm has a market capitalization of $82.77 million, a P/E ratio of -1.19 and a beta of 0.82. Assertio has a 52 week low of $0.73 and a 52 week high of $1.80. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $1.00 and a 200 day moving average price of $1.17.

Assertio (NASDAQ:ASRT) last issued its earnings results on Monday, November 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. The company had revenue of $29.20 million during the quarter, compared to analyst estimates of $29.29 million. During the same quarter last year, the business posted ($0.01) EPS. Sell-side analysts expect that Assertio will post -0.15 EPS for the current year.

Insider Transactions at Assertio

In other Assertio news, Director Heather L. Mason acquired 75,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $0.80 per share, for a total transaction of $60,000.00. Following the completion of the transaction, the director now owns 287,650 shares of the company’s stock, valued at approximately $230,120. The trade was a 35.27 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Assertio

Several large investors have recently modified their holdings of the business. SummerHaven Investment Management LLC increased its position in shares of Assertio by 10.9% during the second quarter. SummerHaven Investment Management LLC now owns 161,171 shares of the company’s stock valued at $200,000 after acquiring an additional 15,779 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Assertio during the second quarter worth $77,000. Perritt Capital Management Inc grew its stake in shares of Assertio by 16.1% in the second 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. Renaissance Technologies LLC raised 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 valued at $2,948,000 after buying an additional 285,655 shares during the period. Finally, Marshall Wace LLP acquired a new position in Assertio during the 2nd quarter worth about $70,000. Institutional investors and hedge funds 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.