Assertio (NASDAQ:ASRT) Posts Earnings Results, Beats Expectations By $0.02 EPS

Assertio (NASDAQ:ASRT) announced its quarterly earnings results on Monday. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02, Zacks reports. Assertio had a positive return on equity of 3.76% and a negative net margin of 54.46%. The business had revenue of $29.20 million during the quarter, compared to analyst estimates of $29.29 million. During the same period in the previous year, the company earned ($0.01) EPS.

Assertio Stock Up 1.2 %

Shares of ASRT stock traded up $0.01 during trading on Wednesday, reaching $0.86. The company had a trading volume of 250,452 shares, compared to its average volume of 928,816. The firm’s 50 day simple moving average is $1.14 and its two-hundred day simple moving average is $1.18. Assertio has a one year low of $0.73 and a one year high of $1.80. The company has a quick ratio of 1.51, a current ratio of 1.93 and a debt-to-equity ratio of 0.29.

Analyst Ratings Changes

Separately, Maxim Group initiated coverage on shares of Assertio in a research note on Friday, July 26th. They issued a “buy” rating and a $3.00 target price for the company. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3.25.

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.