Assertio (NASDAQ:ASRT) Receives New Coverage from Analysts at BWS Financial

Equities research analysts at BWS Financial initiated coverage on shares of Assertio (NASDAQ:ASRT – Get Rating) in a report issued on Wednesday, The Fly reports. The brokerage set a “buy” rating on the stock.

Other analysts also recently issued reports about the stock. StockNews.com upgraded shares of Assertio from a “buy” rating to a “strong-buy” rating in a report on Friday, May 13th. Zacks Investment Research upgraded shares of Assertio from a “hold” rating to a “strong-buy” rating and set a $2.50 target price on the stock in a report on Thursday, May 12th.

Shares of NASDAQ ASRT traded down $0.01 during mid-day trading on Wednesday, hitting $2.94. The company’s stock had a trading volume of 25,401 shares, compared to its average volume of 962,211. The stock has a market cap of $133.56 million, a price-to-earnings ratio of 48.67 and a beta of 1.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.90 and a quick ratio of 0.83. Assertio has a one year low of $0.85 and a one year high of $3.52. The company’s fifty day simple moving average is $2.62 and its 200-day simple moving average is $2.23.

Assertio (NASDAQ:ASRT – Get Rating) last issued its earnings results on Monday, May 9th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm posted $0.12 EPS. On average, sell-side analysts predict that Assertio will post 0.37 EPS for the current year.

In related news, Director James L. Tyree sold 44,643 shares of the business’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $2.36, for a total value of $105,357.48. Following the completion of the transaction, the director now owns 210,451 shares of the company’s stock, valued at $496,664.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel A. Peisert sold 26,391 shares of the business’s stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $3.50, for a total value of $92,368.50. Following the transaction, the chief executive officer now directly owns 158,402 shares of the company’s stock, valued at approximately $554,407. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,552 shares of company stock valued at $318,539. 2.50% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Assertio in the fourth quarter valued at approximately $31,000. Perritt Capital Management Inc. increased its stake in shares of Assertio by 118.8% in the third quarter. Perritt Capital Management Inc. now owns 218,750 shares of the company’s stock valued at $198,000 after buying an additional 118,750 shares during the period. Advisor Group Holdings Inc. increased its stake in shares of 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 period. Walleye Trading LLC acquired a new position in shares of Assertio in the fourth quarter valued at approximately $37,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Assertio in the fourth quarter valued at approximately $28,000. 15.64% of the stock is owned by hedge funds and other institutional investors.

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.

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