Assertio (NASDAQ:ASRT) Issues Quarterly Earnings Results

Assertio (NASDAQ:ASRT) announced its earnings results on Monday. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02, Zacks reports. The firm had revenue of $29.20 million during the quarter, compared to analyst estimates of $29.29 million. Assertio had a positive return on equity of 4.88% and a negative net margin of 261.08%. During the same quarter in the prior year, the company earned ($0.01) EPS.

Assertio Stock Down 7.9 %

Shares of NASDAQ ASRT traded down $0.07 during trading on Tuesday, reaching $0.85. The company had a trading volume of 1,704,145 shares, compared to its average volume of 932,166. Assertio has a 12-month low of $0.73 and a 12-month high of $1.80. The company has a quick ratio of 1.51, a current ratio of 1.93 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average is $1.14 and its 200 day moving average is $1.18. The stock has a market cap of $81.23 million, a PE ratio of -0.21 and a beta of 0.83.

Wall Street Analysts Forecast Growth

Separately, Maxim Group assumed coverage on shares of Assertio in a research report on Friday, July 26th. They issued a “buy” rating and a $3.00 target price on the stock. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.25.

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.