95,679 Shares in Assertio Holdings, Inc. $ASRT Purchased by Belpointe Asset Management LLC

Belpointe Asset Management LLC acquired a new stake in Assertio Holdings, Inc. (NASDAQ:ASRT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 95,679 shares of the company’s stock, valued at approximately $65,000. Belpointe Asset Management LLC owned about 0.10% of Assertio at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Two Sigma Investments LP increased its holdings in shares of Assertio by 3.9% in the fourth quarter. Two Sigma Investments LP now owns 910,046 shares of the company’s stock valued at $793,000 after purchasing an additional 34,004 shares during the last quarter. Northern Trust Corp increased its stake in shares of Assertio by 21.3% in the 4th quarter. Northern Trust Corp now owns 227,217 shares of the company’s stock worth $198,000 after acquiring an additional 39,906 shares during the last quarter. CM Management LLC raised its holdings in shares of Assertio by 18.8% during the 1st 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 period. Finally, Nantahala Capital Management LLC boosted its position in shares of Assertio by 3.6% during the 1st 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 during the last quarter. 48.96% of the stock is currently owned by institutional investors and hedge funds.

Assertio Stock Up 4.6%

Shares of NASDAQ ASRT opened at $0.84 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.59 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $0.76 and its two-hundred day moving average is $0.70. Assertio Holdings, Inc. has a 52-week low of $0.51 and a 52-week high of $1.38. The firm has a market cap of $80.83 million, a price-to-earnings ratio of -1.87 and a beta of 0.35.

Assertio (NASDAQ:ASRT) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.07). Assertio had a negative return on equity of 38.19% and a negative net margin of 36.97%.The firm had revenue of $29.22 million for the quarter, compared to analysts’ expectations of $27.86 million. Assertio has set its FY 2025 guidance at EPS. Research analysts predict that Assertio Holdings, Inc. will post -0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ASRT shares. HC Wainwright cut their price objective on shares of Assertio from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Wall Street Zen downgraded shares of Assertio from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Finally, Zacks Research lowered Assertio from a “hold” rating to a “strong sell” rating in a research report on Monday, August 25th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.38.

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.