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

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

Several other research analysts also recently weighed in on ASRT. Industrial Alliance Securities set a $1.75 target price on shares of Assertio in a research note on Friday, March 14th. HC Wainwright cut their price objective on shares of Assertio from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Wednesday, March 19th.

Assertio Stock Performance

NASDAQ ASRT opened at $0.63 on Monday. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30. Assertio has a fifty-two week low of $0.51 and a fifty-two week high of $1.80. The business has a fifty day moving average of $0.73 and a 200-day moving average of $0.87. The stock has a market cap of $60.28 million, a price-to-earnings ratio of -0.86, a price-to-earnings-growth ratio of 3.25 and a beta of 0.56.

Hedge Funds Weigh In On Assertio

Several large investors have recently added to or reduced their stakes in ASRT. Captrust Financial Advisors acquired a new position in shares of Assertio during the 3rd quarter valued at about $26,000. Stifel Financial Corp purchased a new stake in Assertio in the fourth quarter valued at approximately $27,000. Commonwealth Equity Services LLC acquired a new position in Assertio during the fourth quarter worth approximately $30,000. Sonora Investment Management Group LLC purchased a new position in Assertio during the fourth quarter worth approximately $39,000. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Assertio during the 4th quarter worth $53,000. 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.