Sonora Investment Management Group LLC Invests $39,000 in Assertio Holdings, Inc. (NASDAQ:ASRT)

Sonora Investment Management Group LLC acquired a new position in shares of Assertio Holdings, Inc. (NASDAQ:ASRT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 44,735 shares of the company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ASRT. Captrust Financial Advisors acquired a new stake in shares of Assertio during the 3rd quarter worth about $26,000. Point72 DIFC Ltd acquired a new stake in shares of Assertio during the 2nd quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Assertio by 33.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 67,500 shares of the company’s stock worth $59,000 after purchasing an additional 17,000 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Assertio during the 2nd quarter worth about $70,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Assertio during the 2nd quarter worth about $149,000. 48.96% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Heather L. Mason bought 75,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $0.80 per share, for a total transaction of $60,000.00. Following the completion of the acquisition, the director now owns 287,650 shares in the company, valued at approximately $230,120. This represents a 35.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Assertio from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Assertio in a research note on Monday, December 16th.

Assertio Stock Performance

Shares of ASRT opened at $0.80 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.57 and a current ratio of 2.01. Assertio Holdings, Inc. has a twelve month low of $0.73 and a twelve month high of $1.80. The firm’s 50 day moving average price is $0.89 and its two-hundred day moving average price is $1.08. The firm has a market cap of $76.63 million, a P/E ratio of -1.10, a PEG ratio of 3.32 and a beta of 0.78.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings results on Monday, November 11th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. The firm had revenue of $29.20 million for the quarter, compared to analyst estimates of $29.29 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. On average, analysts forecast that Assertio Holdings, Inc. will post -0.15 EPS for the current fiscal year.

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.