StockNews.com Upgrades Assertio (NASDAQ:ASRT) to Buy

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

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

Assertio Stock Up 0.7 %

NASDAQ:ASRT traded up $0.01 during mid-day trading on Wednesday, hitting $0.86. The stock had a trading volume of 703,490 shares, compared to its average volume of 931,153. The company has a market capitalization of $81.80 million, a PE ratio of -1.18 and a beta of 0.83. The stock has a 50-day simple moving average of $1.13 and a two-hundred day simple moving average of $1.18. Assertio has a twelve month low of $0.73 and a twelve month high of $1.80. 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 (NASDAQ:ASRT) last posted its earnings results on Monday, November 11th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $29.20 million for the quarter, compared to analysts’ expectations of $29.29 million. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. On average, equities research analysts anticipate that Assertio will post -0.17 EPS for the current year.

Institutional Trading of Assertio

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd bought a new stake in Assertio during the 2nd quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Assertio by 304.0% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock valued at $60,000 after purchasing an additional 38,000 shares during the period. Marshall Wace LLP purchased a new stake in Assertio in the 2nd quarter worth about $70,000. Los Angeles Capital Management LLC acquired a new stake in shares of Assertio during the second quarter worth approximately $77,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Assertio during the 2nd quarter valued at $149,000. 48.96% of the stock is owned by institutional investors and hedge funds.

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.