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

StockNews.com upgraded shares of Assertio (NASDAQ:ASRT) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Assertio Price Performance

Assertio stock opened at $1.11 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.43 and a current ratio of 1.83. Assertio has a 52 week low of $0.73 and a 52 week high of $8.01. The stock has a market capitalization of $105.58 million, a P/E ratio of -0.28 and a beta of 1.00. The stock has a fifty day moving average of $0.94 and a 200-day moving average of $1.08.

Assertio (NASDAQ:ASRT) last issued its earnings results on Monday, March 11th. The company reported $0.08 EPS for the quarter. Assertio had a positive return on equity of 6.30% and a negative net margin of 218.28%. The firm had revenue of $32.99 million during the quarter, compared to the consensus estimate of $31.42 million. On average, sell-side analysts expect that Assertio will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Assertio

A number of hedge funds and other institutional investors have recently modified their holdings of ASRT. Armistice Capital LLC bought a new position in shares of Assertio in the 3rd quarter valued at $10,045,000. Thompson Siegel & Walmsley LLC raised its position in Assertio by 489.6% in the third quarter. Thompson Siegel & Walmsley LLC now owns 1,225,233 shares of the company’s stock valued at $3,137,000 after purchasing an additional 1,017,436 shares during the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of Assertio during the third quarter valued at about $2,435,000. AIGH Capital Management LLC bought a new stake in shares of Assertio during the third quarter worth about $2,416,000. Finally, Senvest Management LLC acquired a new position in shares of Assertio in the fourth quarter valued at approximately $602,000. 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.