Assertio Holdings, Inc. (NASDAQ:ASRT) Receives Average Recommendation of “Buy” from Brokerages

Assertio Holdings, Inc. (NASDAQ:ASRT) has received a consensus recommendation of “Buy” from the four brokerages that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $3.44.

A number of research firms have commented on ASRT. HC Wainwright began coverage on shares of Assertio in a report on Wednesday, July 3rd. They issued a “buy” rating and a $4.00 price objective for the company. Maxim Group began coverage on shares of Assertio in a report on Friday, July 26th. They issued a “buy” rating and a $3.00 price objective for the company.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ASRT. Russell Investments Group Ltd. lifted its position in 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. Empowered Funds LLC raised its position in shares of Assertio by 8.2% during the 1st quarter. Empowered Funds LLC now owns 380,417 shares of the company’s stock worth $365,000 after buying an additional 28,809 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Assertio during the 2nd quarter worth about $77,000. Vanguard Group Inc. raised its position in shares of Assertio by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock worth $4,719,000 after buying an additional 41,071 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Assertio during the 2nd quarter worth about $40,000. 48.96% of the stock is currently owned by institutional investors.

Assertio Stock Performance

Shares of ASRT stock opened at $1.11 on Wednesday. The business’s fifty day simple moving average is $1.19 and its 200-day simple moving average is $1.15. The company has a market cap of $105.59 million, a PE ratio of -0.28 and a beta of 0.79. The company has a current ratio of 1.93, a quick ratio of 1.51 and a debt-to-equity ratio of 0.29. Assertio has a 12-month low of $0.73 and a 12-month high of $2.53.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Assertio had a negative net margin of 261.08% and a positive return on equity of 4.88%. The company had revenue of $31.13 million for the quarter, compared to analysts’ expectations of $30.37 million. During the same period last year, the firm earned $0.13 earnings per share. Analysts expect that Assertio will post -0.17 earnings per share for the current fiscal year.

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.