Assertio (NASDAQ:ASRT) Upgraded by StockNews.com to Buy Rating

Assertio (NASDAQ:ASRT) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Separately, Maxim Group assumed coverage on Assertio in a research note on Friday, July 26th. They set a “buy” rating and a $3.00 target price for the company. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $3.25.

Assertio Price Performance

ASRT stock traded up $0.01 during trading on Wednesday, hitting $0.86. The company had a trading volume of 703,490 shares, compared to its average volume of 931,153. The company has a fifty day moving average price of $1.13 and a two-hundred day moving average price of $1.18. The company has a current ratio of 2.01, a quick ratio of 1.51 and a debt-to-equity ratio of 0.30. Assertio has a fifty-two week low of $0.73 and a fifty-two week high of $1.80. The company has a market cap of $81.80 million, a P/E ratio of -1.18 and a beta of 0.83.

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

Hedge Funds Weigh In On Assertio

Several hedge funds and other institutional investors have recently modified their holdings of the business. SummerHaven Investment Management LLC lifted its stake in shares of Assertio by 10.9% in the second quarter. SummerHaven Investment Management LLC now owns 161,171 shares of the company’s stock worth $200,000 after acquiring an additional 15,779 shares during the period. Palumbo Wealth Management LLC boosted its stake in Assertio by 9.3% during the 3rd quarter. Palumbo Wealth Management LLC now owns 185,961 shares of the company’s stock valued at $219,000 after purchasing an additional 15,863 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Assertio by 5.4% in the third quarter. Empowered Funds LLC now owns 431,913 shares of the company’s stock valued at $510,000 after purchasing an additional 21,976 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Assertio in the second quarter worth $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Assertio by 304.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock valued at $60,000 after buying an additional 38,000 shares during the period. Institutional investors own 48.96% of the company’s stock.

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.