StockNews.com Upgrades Assertio (NASDAQ:ASRT) to Buy

Assertio (NASDAQ:ASRTGet Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

ASRT has been the topic of several other reports. Roth Capital reaffirmed a “buy” rating on shares of Assertio in a report on Wednesday, August 24th. TheStreet raised shares of Assertio from a “d” rating to a “c-” rating in a research note on Wednesday, August 3rd.

Assertio Stock Up 2.7 %

Shares of ASRT opened at $2.25 on Friday. Assertio has a 12 month low of $0.85 and a 12 month high of $4.44. The firm’s 50 day moving average is $3.08 and its 200-day moving average is $2.89. The stock has a market capitalization of $108.40 million, a PE ratio of 4.17, a P/E/G ratio of 0.44 and a beta of 1.67. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.39.

Assertio (NASDAQ:ASRTGet Rating) last announced its earnings results on Monday, August 8th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. Assertio had a net margin of 19.35% and a return on equity of 22.98%. The company had revenue of $35.13 million for the quarter, compared to analysts’ expectations of $31.62 million. During the same period last year, the firm earned ($0.32) earnings per share. Equities research analysts forecast that Assertio will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its position in Assertio by 4.5% in the second quarter. Northern Trust Corp now owns 78,745 shares of the company’s stock valued at $232,000 after buying an additional 3,399 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its position in Assertio by 3.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 169,473 shares of the company’s stock valued at $500,000 after buying an additional 6,329 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Assertio in the second quarter valued at approximately $28,000. Cubist Systematic Strategies LLC boosted its position in Assertio by 14.4% in the second quarter. Cubist Systematic Strategies LLC now owns 77,424 shares of the company’s stock valued at $228,000 after buying an additional 9,755 shares in the last quarter. Finally, Sigma Planning Corp acquired a new stake in Assertio in the second quarter valued at approximately $32,000. 27.93% of the stock is owned by 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.

Read More

Receive News & Ratings for Assertio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Assertio and related companies with MarketBeat.com's FREE daily email newsletter.