Assertio (NASDAQ:ASRT) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Assertio (NASDAQ:ASRTGet Rating) announced its earnings results on Monday. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11, Fidelity Earnings reports. Assertio had a negative return on equity of 1.29% and a negative net margin of 1.15%. During the same period last year, the business earned $0.12 EPS. Assertio updated its FY 2022 guidance to EPS.

NASDAQ:ASRT opened at $2.14 on Tuesday. The company has a market cap of $97.01 million, a price-to-earnings ratio of -94.00 and a beta of 1.61. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. Assertio has a 52 week low of $0.85 and a 52 week high of $3.52. The company has a fifty day simple moving average of $2.58 and a two-hundred day simple moving average of $2.17.

In related news, CEO Daniel A. Peisert sold 26,391 shares of the firm’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $3.50, for a total value of $92,368.50. Following the sale, the chief executive officer now owns 158,402 shares of the company’s stock, valued at $554,407. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel A. Peisert sold 34,518 shares of Assertio stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $3.50, for a total transaction of $120,813.00. Following the completion of the transaction, the chief executive officer now owns 184,793 shares of the company’s stock, valued at approximately $646,775.50. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Morgan Stanley lifted its holdings in Assertio by 10.2% during the 3rd quarter. Morgan Stanley now owns 72,444 shares of the company’s stock worth $66,000 after buying an additional 6,731 shares during the last quarter. Geode Capital Management LLC grew its stake in Assertio by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 344,331 shares of the company’s stock worth $311,000 after buying an additional 7,525 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Assertio during the fourth quarter worth approximately $28,000. Advisor Group Holdings Inc. lifted its stake in Assertio by 2,983.7% in the first quarter. Advisor Group Holdings Inc. now owns 13,229 shares of the company’s stock valued at $38,000 after buying an additional 12,800 shares during the last quarter. Finally, Walleye Trading LLC acquired a new stake in shares of Assertio in the fourth quarter valued at approximately $37,000. Institutional investors own 15.64% of the company’s stock.

Several equities research analysts recently issued reports on ASRT shares. StockNews.com began coverage on Assertio in a report on Saturday, March 26th. They issued a “buy” rating on the stock. Zacks Investment Research lowered shares of Assertio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 19th.

Assertio Company Profile (Get Rating)

Assertio Holdings, Inc, a specialty pharmaceutical company, provides medicines in the areas of neurology, hospital, and pain and inflammation. Its pharmaceutical products include INDOCIN, an oral solution and a suppository form 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.

See Also

Earnings History for Assertio (NASDAQ:ASRT)

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