Short Interest in Assertio Holdings, Inc. (NASDAQ:ASRT) Drops By 92.8%

Assertio Holdings, Inc. (NASDAQ:ASRT) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 285,110 shares, a decrease of 92.8% from the December 15th total of 3,935,645 shares. Approximately 4.6% of the company’s shares are short sold. Based on an average trading volume of 79,329 shares, the short-interest ratio is currently 3.6 days. Based on an average trading volume of 79,329 shares, the short-interest ratio is currently 3.6 days. Approximately 4.6% of the company’s shares are short sold.

Assertio Stock Performance

Shares of ASRT stock opened at $10.34 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.43 and a debt-to-equity ratio of 0.37. The company has a market cap of $66.38 million, a PE ratio of -2.22 and a beta of 0.61. The company’s fifty day simple moving average is $10.85 and its 200-day simple moving average is $11.48. Assertio has a 52 week low of $7.65 and a 52 week high of $15.15.

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

Hedge Funds Weigh In On Assertio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in Assertio in the third quarter valued at approximately $26,000. Belpointe Asset Management LLC acquired a new stake in Assertio during the 1st quarter valued at $65,000. TSP Capital Management Group LLC increased its stake in Assertio by 12.2% during the 2nd quarter. TSP Capital Management Group LLC now owns 316,875 shares of the company’s stock worth $203,000 after buying an additional 34,550 shares during the period. Perritt Capital Management Inc increased its stake in Assertio by 51.6% during the 3rd quarter. Perritt Capital Management Inc now owns 350,316 shares of the company’s stock worth $309,000 after buying an additional 119,281 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in Assertio by 536.0% in the 3rd quarter. GSA Capital Partners LLP now owns 381,584 shares of the company’s stock worth $336,000 after buying an additional 321,584 shares in the last quarter. Hedge funds and other institutional investors own 48.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Assertio in a research report on Wednesday, October 8th. Zacks Research upgraded Assertio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Wall Street Zen raised Assertio to a “buy” rating in a research report on Saturday, November 22nd. Finally, HC Wainwright reissued a “buy” rating and set a $35.00 price target (up previously from $3.00) on shares of Assertio in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.63.

Assertio Company Profile

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.