Assertio (NASDAQ:ASRT) Raised to “Buy” at StockNews.com

Assertio (NASDAQ:ASRT) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Separately, Maxim Group began coverage on shares of Assertio in a report on Friday, July 26th. They set a “buy” rating and a $3.00 price objective on the stock.

Assertio Stock Performance

Shares of ASRT opened at $0.84 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.01 and a quick ratio of 1.51. Assertio has a one year low of $0.73 and a one year high of $1.80. The company’s fifty day moving average price is $1.13 and its 200 day moving average price is $1.18. The company has a market capitalization of $80.26 million, a PE ratio of -1.15 and a beta of 0.83.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings results on Monday, November 11th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $29.20 million during the quarter, compared to analyst estimates of $29.29 million. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. During the same period in the previous year, the company earned ($0.01) earnings per share. As a group, analysts expect that Assertio will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Assertio

A number of hedge funds and other institutional investors have recently made changes to their positions in ASRT. Captrust Financial Advisors acquired a new position in Assertio in the third quarter worth about $26,000. Point72 DIFC Ltd bought a new stake in Assertio during the 2nd quarter worth approximately $40,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Assertio by 304.0% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock valued at $60,000 after purchasing an additional 38,000 shares in the last quarter. Marshall Wace LLP bought a new position in Assertio in the 2nd quarter valued at $70,000. Finally, Los Angeles Capital Management LLC acquired a new position in Assertio in the second quarter worth $77,000. 48.96% of the stock is owned by institutional investors.

About Assertio

Assertio Holdings, Inc, a commercial pharmaceutical company, provides various products to patients in the United States. Its pharmaceutical products include INDOCIN, an oral and suppository solution 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.