Assertio (NASDAQ:ASRT) Earns “Buy” Rating from HC Wainwright

Assertio (NASDAQ:ASRT)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $3.50 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 410.13% from the company’s previous close.

A number of other analysts have also issued reports on the company. StockNews.com lowered Assertio from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Alliance Global Partners restated a “buy” rating on shares of Assertio in a report on Tuesday, May 13th. Finally, Industrial Alliance Securities set a $1.75 target price on shares of Assertio in a report on Friday, March 14th.

Assertio Price Performance

Shares of NASDAQ ASRT opened at $0.69 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.57 and a current ratio of 2.01. The firm has a fifty day moving average of $0.65 and a 200 day moving average of $0.79. The firm has a market cap of $65.72 million, a PE ratio of -0.94, a PEG ratio of 3.25 and a beta of 0.32. Assertio has a one year low of $0.51 and a one year high of $1.80.

Assertio (NASDAQ:ASRT) last released its earnings results on Monday, May 12th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. The company had revenue of $26.49 million for the quarter, compared to analysts’ expectations of $27.52 million. During the same period in the prior year, the firm earned $0.04 EPS. As a group, research analysts predict that Assertio will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Assertio

A number of institutional investors have recently added to or reduced their stakes in ASRT. Palumbo Wealth Management LLC grew its holdings in shares of Assertio by 10.6% in the fourth quarter. Palumbo Wealth Management LLC now owns 205,598 shares of the company’s stock valued at $179,000 after purchasing an additional 19,637 shares during the period. Geode Capital Management LLC increased its holdings in shares of Assertio by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,095,911 shares of the company’s stock worth $955,000 after buying an additional 21,059 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Assertio by 5.4% during the 4th quarter. Empowered Funds LLC now owns 455,282 shares of the company’s stock worth $397,000 after buying an additional 23,369 shares during the last quarter. Stifel Financial Corp purchased a new stake in shares of Assertio during the 4th quarter valued at approximately $27,000. Finally, Two Sigma Investments LP lifted its holdings in Assertio by 3.9% in the fourth quarter. Two Sigma Investments LP now owns 910,046 shares of the company’s stock valued at $793,000 after acquiring an additional 34,004 shares during the last quarter. Hedge funds and other institutional investors own 48.96% of the company’s stock.

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.