Assertio (NASDAQ:ASRT) Raised to Strong-Buy at StockNews.com

Assertio (NASDAQ:ASRT – Get Rating) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

Separately, BWS Financial assumed coverage on shares of Assertio in a research note on Wednesday, May 18th. They set a “buy” rating for the company.

NASDAQ ASRT opened at $2.76 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average of $2.76 and a two-hundred day moving average of $2.47. The firm has a market capitalization of $125.40 million, a price-to-earnings ratio of 46.00, a PEG ratio of 0.77 and a beta of 1.57. Assertio has a 52 week low of $0.85 and a 52 week high of $3.52.

Assertio (NASDAQ:ASRT – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.20 EPS for the quarter, topping 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 quarter last year, the business earned $0.12 earnings per share. Equities research analysts anticipate that Assertio will post 0.4 EPS for the current year.

In related news, Director James L. Tyree sold 44,643 shares of Assertio 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 sale, the director now directly owns 210,451 shares in the company, valued at $496,664.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel A. Peisert sold 26,391 shares of Assertio stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $3.50, for a total value of $92,368.50. Following the completion of the sale, the chief executive officer now owns 158,402 shares of the company’s stock, valued at $554,407. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,552 shares of company stock valued at $318,539. Corporate insiders own 2.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ASRT. Jane Street Group LLC grew its stake in shares of Assertio by 102.6% during the first quarter. Jane Street Group LLC now owns 41,371 shares of the company’s stock worth $119,000 after acquiring an additional 20,952 shares during the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of Assertio during the first quarter worth about $169,000. Atria Wealth Solutions Inc. purchased a new stake in Assertio in the first quarter valued at approximately $43,000. Invesco Ltd. boosted its position in Assertio by 64.6% in the first quarter. Invesco Ltd. now owns 182,970 shares of the company’s stock valued at $525,000 after buying an additional 71,829 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Assertio by 621.1% in the first quarter. Renaissance Technologies LLC now owns 92,300 shares of the company’s stock valued at $265,000 after buying an additional 79,500 shares during the last quarter. 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.

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