Maxim Group Begins Coverage on Assertio (NASDAQ:ASRT)

Maxim Group assumed coverage on shares of Assertio (NASDAQ:ASRT) in a research report sent to investors on Friday morning, MarketBeat reports. The brokerage issued a buy rating and a $3.00 price objective on the stock.

A number of other research firms have also recently weighed in on ASRT. StockNews.com cut Assertio from a buy rating to a hold rating in a report on Wednesday, May 15th. Alliance Global Partners began coverage on Assertio in a report on Tuesday, May 28th. They set a buy rating and a $2.75 price target for the company. Finally, HC Wainwright assumed coverage on Assertio in a report on Wednesday, July 3rd. They set a buy rating and a $4.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $4.15.

Assertio Stock Up 2.4 %

Shares of ASRT opened at $1.51 on Friday. Assertio has a 52-week low of $0.73 and a 52-week high of $5.78. The company has a market capitalization of $143.16 million, a PE ratio of -0.38 and a beta of 0.90. The stock has a fifty day simple moving average of $1.25 and a two-hundred day simple moving average of $1.03. The company has a quick ratio of 1.45, a current ratio of 1.87 and a debt-to-equity ratio of 0.29.

Assertio (NASDAQ:ASRT) last issued its earnings results on Monday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $32.45 million during the quarter, compared to the consensus estimate of $28.93 million. Assertio had a positive return on equity of 10.80% and a negative net margin of 234.40%. As a group, equities analysts forecast that Assertio will post -0.13 EPS for the current year.

Hedge Funds Weigh In On Assertio

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SummerHaven Investment Management LLC boosted its holdings in Assertio by 10.9% during the 2nd 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 period. Vanguard Group Inc. boosted its stake in shares of Assertio by 0.8% in the 1st 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. Russell Investments Group Ltd. boosted its stake in shares of 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 buying an additional 2,336,450 shares during the period. Empowered Funds LLC boosted its stake in shares of Assertio by 8.2% in the 1st quarter. Empowered Funds LLC now owns 380,417 shares of the company’s stock valued at $365,000 after buying an additional 28,809 shares during the period. Finally, TSP Capital Management Group LLC boosted its stake in shares of Assertio by 18.5% in the 1st quarter. TSP Capital Management Group LLC now owns 214,500 shares of the company’s stock valued at $206,000 after buying an additional 33,550 shares during the period. 48.96% of the stock is currently owned by hedge funds and other institutional investors.

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.