Zacks Investment Research Upgrades Assertio (NASDAQ:ASRT) to Strong-Buy

Zacks Investment Research upgraded shares of Assertio (NASDAQ:ASRTGet Rating) from a hold rating to a strong-buy rating in a report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $2.50 target price on the stock.

According to Zacks, “Assertio Holdings Inc. is a specialty pharmaceutical company. Its portfolio consists of branded prescription neurology, inflammation and pain medications. The company’s business development includes acquisitions, licensing and mergers. Assertio Holdings Inc., formerly known as Assertio Therapeutics Inc., is based in LAKE FOREST, Ill. “

Separately, StockNews.com started coverage on shares of Assertio in a report on Saturday, March 26th. They issued a buy rating on the stock.

Assertio stock traded up $0.13 during midday trading on Thursday, reaching $2.76. The stock had a trading volume of 3,780 shares, compared to its average volume of 869,246. Assertio has a twelve month low of $0.85 and a twelve month high of $3.52. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.90 and a quick ratio of 0.71. The firm has a market cap of $125.39 million, a price-to-earnings ratio of 43.83 and a beta of 1.61. The firm’s fifty day simple moving average is $2.59 and its two-hundred day simple moving average is $2.18.

Assertio (NASDAQ:ASRTGet Rating) last released its earnings results on Monday, May 9th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11. Assertio had a net margin of 2.68% and a return on equity of 3.21%. During the same period in the prior year, the business posted $0.12 earnings per share. As a group, sell-side analysts predict that Assertio will post 0.37 EPS for the current fiscal year.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new position in Assertio during the fourth quarter worth $28,000. Advisor Group Holdings Inc. boosted its holdings in Assertio by 2,983.7% during the first quarter. Advisor Group Holdings Inc. now owns 13,229 shares of the company’s stock worth $38,000 after purchasing an additional 12,800 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Assertio during the fourth quarter worth $31,000. Walleye Trading LLC acquired a new position in Assertio during the fourth quarter worth $37,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Assertio during the first quarter worth $62,000. Institutional investors and hedge funds own 15.64% of the company’s stock.

About Assertio (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.

Further Reading

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