Assertio’s (ASRT) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Assertio (NASDAQ:ASRT) in a research note released on Monday morning,Benzinga reports. HC Wainwright currently has a $3.50 price objective on the stock.

A number of other analysts have also recently issued reports on the company. StockNews.com cut Assertio from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Alliance Global Partners reiterated a “buy” rating on shares of Assertio in a report on Tuesday, May 13th. Finally, Industrial Alliance Securities set a $1.75 target price on Assertio in a report on Friday, March 14th.

Assertio Trading Up 6.8%

NASDAQ:ASRT opened at $0.71 on Monday. The company has a market capitalization of $68.09 million, a PE ratio of -0.97, a price-to-earnings-growth ratio of 3.25 and a beta of 0.32. The stock has a fifty day simple moving average of $0.65 and a 200-day simple moving average of $0.79. Assertio has a 52-week low of $0.51 and a 52-week high of $1.80. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30.

Assertio (NASDAQ:ASRT) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The business had revenue of $26.49 million during the quarter, compared to analysts’ expectations of $27.52 million. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. During the same quarter last year, the firm earned $0.04 EPS. On average, equities research analysts expect that Assertio will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Assertio

Several large investors have recently bought and sold shares of ASRT. Nantahala Capital Management LLC grew its position in Assertio by 3.6% in the first quarter. Nantahala Capital Management LLC now owns 8,439,762 shares of the company’s stock valued at $5,693,000 after acquiring an additional 291,426 shares in the last quarter. CM Management LLC increased its position in shares of Assertio by 18.8% during the first quarter. CM Management LLC now owns 475,000 shares of the company’s stock worth $320,000 after acquiring an additional 75,000 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Assertio in the 4th quarter valued at approximately $64,000. Wealthfront Advisers LLC acquired a new position in shares of Assertio in the 4th quarter valued at approximately $53,000. Finally, Sonora Investment Management Group LLC acquired a new position in shares of Assertio in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 48.96% of the company’s stock.

Assertio Company Profile

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.