Assertio (NASDAQ:ASRT) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Assertio (NASDAQ:ASRT) in a research report released on Monday,Benzinga reports. They currently have a $4.00 price target on the stock.

Separately, StockNews.com raised Assertio from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th.

Assertio Stock Down 6.3 %

Assertio stock opened at $0.87 on Monday. The stock has a 50 day moving average of $1.00 and a two-hundred day moving average of $1.17. Assertio has a twelve month low of $0.73 and a twelve month high of $1.80. The company has a current ratio of 2.01, a quick ratio of 1.57 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $82.77 million, a price-to-earnings ratio of -1.19 and a beta of 0.82.

Assertio (NASDAQ:ASRT) last released its earnings results on Monday, November 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. The company had revenue of $29.20 million for the quarter, compared to analysts’ expectations of $29.29 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. As a group, research analysts expect that Assertio will post -0.15 earnings per share for the current year.

Insider Transactions at Assertio

In related news, Director Heather L. Mason purchased 75,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $0.80 per share, for a total transaction of $60,000.00. Following the acquisition, the director now directly owns 287,650 shares in the company, valued at $230,120. The trade was a 35.27 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Assertio

A number of hedge funds have recently bought and sold shares of ASRT. Captrust Financial Advisors bought a new stake in shares of Assertio in the 3rd quarter worth about $26,000. Point72 DIFC Ltd bought a new position in Assertio during the second quarter worth $40,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Assertio by 304.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock valued at $60,000 after purchasing an additional 38,000 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Assertio in the 2nd quarter valued at about $70,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Assertio during the second quarter worth about $77,000. Institutional investors and hedge funds own 48.96% of the company’s stock.

About Assertio

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.