Assertio (NASDAQ:ASRT) Upgraded by StockNews.com to “Buy” Rating

Assertio (NASDAQ:ASRT) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Separately, Maxim Group began coverage on Assertio in a research note on Friday, July 26th. They issued a “buy” rating and a $3.00 target price on the stock.

Assertio Stock Performance

ASRT stock opened at $0.84 on Wednesday. The stock has a market capitalization of $80.26 million, a PE ratio of -1.15 and a beta of 0.83. Assertio has a fifty-two week low of $0.73 and a fifty-two week high of $1.80. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.01 and a quick ratio of 1.51. The company has a 50 day moving average price of $1.13 and a 200 day moving average price of $1.18.

Assertio (NASDAQ:ASRT) last posted its quarterly earnings results on Monday, November 11th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $29.20 million during the quarter, compared to the consensus estimate of $29.29 million. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. During the same period in the previous year, the firm posted ($0.01) earnings per share. Analysts forecast that Assertio will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Assertio

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position 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 buying an additional 41,071 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Assertio by 13.7% in the second quarter. Renaissance Technologies LLC now owns 2,377,614 shares of the company’s stock worth $2,948,000 after acquiring an additional 285,655 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Assertio by 22,096.2% during the first quarter. Russell Investments Group Ltd. now owns 2,347,024 shares of the company’s stock worth $2,251,000 after purchasing an additional 2,336,450 shares during the period. Empowered Funds LLC raised its position in shares of Assertio by 5.4% during the third quarter. Empowered Funds LLC now owns 431,913 shares of the company’s stock worth $510,000 after purchasing an additional 21,976 shares during the period. Finally, Perritt Capital Management Inc lifted its holdings in shares of Assertio by 16.1% during 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 in the last quarter. 48.96% of the stock is owned by institutional investors.

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.