Assertio (NASDAQ:ASRT) Upgraded at Zacks Research

Zacks Research upgraded shares of Assertio (NASDAQ:ASRT) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also recently issued reports on ASRT. Wall Street Zen upgraded Assertio to a “buy” rating in a research note on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Assertio in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Assertio presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.63.

Assertio Stock Performance

Shares of Assertio stock opened at $9.07 on Tuesday. The firm has a market cap of $58.23 million, a PE ratio of -1.95 and a beta of 0.62. The company has a quick ratio of 1.43, a current ratio of 1.58 and a debt-to-equity ratio of 0.37. Assertio has a 52 week low of $7.65 and a 52 week high of $15.15. The business’s fifty day simple moving average is $11.21 and its 200-day simple moving average is $11.48.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings data on Monday, November 10th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.20) by $2.85. Assertio had a negative net margin of 21.06% and a negative return on equity of 26.99%. The firm had revenue of $49.46 million for the quarter, compared to analyst estimates of $27.02 million. Equities analysts forecast that Assertio will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Assertio

Several large investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in Assertio during the 3rd quarter worth $26,000. TSP Capital Management Group LLC raised its holdings in shares of Assertio by 12.2% during the 2nd quarter. TSP Capital Management Group LLC now owns 316,875 shares of the company’s stock valued at $203,000 after buying an additional 34,550 shares during the period. Vanguard Group Inc. lifted its position in Assertio by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,425,543 shares of the company’s stock worth $3,899,000 after acquiring an additional 41,332 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Assertio in the 1st quarter worth approximately $65,000. Finally, Perritt Capital Management Inc grew its position in Assertio by 51.6% in the third quarter. Perritt Capital Management Inc now owns 350,316 shares of the company’s stock valued at $309,000 after acquiring an additional 119,281 shares in the last quarter. Institutional investors and hedge funds own 48.96% of the company’s stock.

About Assertio

Assertio Therapeutics, Inc, formerly known as Depomed, is a specialty pharmaceutical company focused on the development and commercialization of therapies for central nervous system (CNS) disorders, including neuropathic pain, migraine and breakthrough cancer pain. The company’s commercial portfolio includes three FDA-approved products—Qutenza (8% capsaicin) for postherpetic neuralgia, Butrans (buprenorphine) transdermal system for chronic pain and Onsolis (fentanyl buccal soluble film) for breakthrough cancer pain—which are marketed primarily in the United States under licensing agreements with global partners.

In addition to its marketed therapies, Assertio maintains a pipeline of preclinical and clinical-stage candidates targeting a range of pain and neurological conditions.