Brokerages Set Assertio Holdings, Inc. (NASDAQ:ASRT) Target Price at $3.44

Assertio Holdings, Inc. (NASDAQ:ASRT) has been assigned a consensus rating of “Buy” from the four research firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $3.44.

Several equities research analysts have recently commented on the stock. Alliance Global Partners assumed coverage on shares of Assertio in a research report on Tuesday, May 28th. They set a “buy” rating and a $2.75 price target for the company. HC Wainwright assumed coverage on shares of Assertio in a research report on Wednesday, July 3rd. They set a “buy” rating and a $4.00 price target for the company. Finally, Maxim Group initiated coverage on shares of Assertio in a research report on Friday, July 26th. They set a “buy” rating and a $3.00 price target for the company.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ASRT. Armistice Capital LLC grew its holdings in Assertio by 47.8% in the 4th quarter. Armistice Capital LLC now owns 5,800,000 shares of the company’s stock valued at $6,206,000 after buying an additional 1,876,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Assertio by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock valued at $4,719,000 after purchasing an additional 41,071 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Assertio by 13.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,377,614 shares of the company’s stock valued at $2,948,000 after purchasing an additional 285,655 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Assertio by 22,096.2% in the 1st quarter. Russell Investments Group Ltd. now owns 2,347,024 shares of the company’s stock valued at $2,251,000 after purchasing an additional 2,336,450 shares during the last quarter. Finally, Perritt Capital Management Inc lifted its stake in shares of Assertio by 16.1% in the 2nd quarter. Perritt Capital Management Inc now owns 426,850 shares of the company’s stock valued at $529,000 after purchasing an additional 59,333 shares during the last quarter. 48.96% of the stock is owned by institutional investors and hedge funds.

Assertio Stock Performance

NASDAQ:ASRT opened at $1.24 on Friday. The stock has a market cap of $117.96 million, a P/E ratio of -0.31 and a beta of 0.79. The firm’s fifty day simple moving average is $1.33 and its 200 day simple moving average is $1.13. Assertio has a twelve month low of $0.73 and a twelve month high of $2.76. The company has a quick ratio of 1.51, a current ratio of 1.93 and a debt-to-equity ratio of 0.29.

Assertio (NASDAQ:ASRT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $31.13 million for the quarter, compared to the consensus estimate of $30.37 million. Assertio had a negative net margin of 261.08% and a positive return on equity of 4.88%. During the same quarter last year, the firm posted $0.13 EPS. As a group, research analysts predict that Assertio will post -0.17 EPS for the current year.

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.