Insider Buying: Assertio Holdings, Inc. (NASDAQ:ASRT) Director Acquires 75,000 Shares of Stock

Assertio Holdings, Inc. (NASDAQ:ASRT) Director Heather L. Mason bought 75,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was purchased at an average cost of $0.80 per share, for a total transaction of $60,000.00. Following the completion of the transaction, the director now owns 287,650 shares in the company, valued at approximately $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 SEC, which is available at this hyperlink.

Assertio Stock Performance

ASRT opened at $0.97 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.57 and a current ratio of 2.01. The company has a market cap of $93.08 million, a PE ratio of -1.34 and a beta of 0.83. The stock has a 50-day moving average of $1.10 and a 200-day moving average of $1.18. Assertio Holdings, Inc. has a 52-week low of $0.73 and a 52-week high of $1.80.

Assertio (NASDAQ:ASRT) last posted its earnings results on Monday, November 11th. The company reported ($0.03) earnings per share 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 firm had revenue of $29.20 million during the quarter, compared to analyst estimates of $29.29 million. During the same period in the previous year, the company earned ($0.01) EPS. As a group, equities research analysts forecast that Assertio Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on ASRT shares. StockNews.com upgraded Assertio from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Maxim Group initiated coverage on shares of Assertio in a research report on Friday, July 26th. They issued a “buy” rating and a $3.00 target price for the company.

Institutional Trading of Assertio

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings 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 worth $2,251,000 after acquiring an additional 2,336,450 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Assertio by 304.0% in 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. Los Angeles Capital Management LLC bought a new position in shares of Assertio in the second quarter worth about $77,000. Vanguard Group Inc. lifted 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 purchasing an additional 41,071 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Assertio during the 2nd quarter valued at approximately $40,000. 48.96% of the stock is owned by institutional investors.

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.