Point72 DIFC Ltd Buys New Position in Assertio Holdings, Inc. (NASDAQ:ASRT)

Point72 DIFC Ltd purchased a new position in shares of Assertio Holdings, Inc. (NASDAQ:ASRT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,929 shares of the company’s stock, valued at approximately $40,000.

Several other hedge funds have also made changes to their positions in the business. Marshall Wace LLP acquired a new position in shares of Assertio in the second quarter valued at approximately $70,000. Los Angeles Capital Management LLC acquired a new position in shares of Assertio in the second quarter worth $77,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Assertio during the second quarter worth $149,000. Denali Advisors LLC boosted its holdings in Assertio by 286.9% in the first quarter. Denali Advisors LLC now owns 165,200 shares of the company’s stock valued at $158,000 after purchasing an additional 122,500 shares during the period. Finally, SummerHaven Investment Management LLC grew its stake in Assertio by 10.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 161,171 shares of the company’s stock worth $200,000 after purchasing an additional 15,779 shares in the last quarter. Institutional investors and hedge funds own 48.96% of the company’s stock.

Assertio Trading Down 2.7 %

NASDAQ:ASRT opened at $1.09 on Friday. Assertio Holdings, Inc. has a 1 year low of $0.73 and a 1 year high of $2.60. The stock has a market cap of $103.69 million, a P/E ratio of -0.28 and a beta of 0.79. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.51 and a current ratio of 1.93. The stock has a 50-day simple moving average of $1.23 and a 200-day simple moving average of $1.15.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $31.13 million during the quarter, compared to analyst estimates 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 period last year, the company earned $0.13 earnings per share. As a group, analysts anticipate that Assertio Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ASRT shares. HC Wainwright started coverage on Assertio in a research report on Wednesday, July 3rd. They issued a “buy” rating and a $4.00 price target on the stock. Maxim Group began coverage on shares of Assertio in a research note on Friday, July 26th. They issued a “buy” rating and a $3.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Assertio presently has an average rating of “Moderate Buy” and a consensus target price of $3.44.

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.