Assertio Holdings, Inc. (NASDAQ:ASRT) Given Consensus Rating of “Buy” by Brokerages

Assertio Holdings, Inc. (NASDAQ:ASRT) has been given a consensus rating of “Buy” by the four research firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have covered the stock in the last year is $3.44.

A number of research firms recently issued reports on ASRT. Maxim Group initiated coverage on Assertio in a report on Friday, July 26th. They set a “buy” rating and a $3.00 price target on the stock. HC Wainwright began coverage on Assertio in a report on Wednesday, July 3rd. They issued a “buy” rating and a $4.00 target price on the stock.

Assertio Stock Up 0.9 %

Assertio stock opened at $1.13 on Wednesday. The stock has a 50-day simple moving average of $1.19 and a 200-day simple moving average of $1.15. The company has a market capitalization of $107.49 million, a P/E ratio of -0.29 and a beta of 0.79. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.51 and a current ratio of 1.93. Assertio has a fifty-two week low of $0.73 and a fifty-two week high of $2.53.

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

Institutional Trading of Assertio

Institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new stake in shares of Assertio during the 2nd quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings 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 worth $60,000 after purchasing an additional 38,000 shares during the last quarter. Marshall Wace LLP purchased a new stake in Assertio during the second quarter worth $70,000. Los Angeles Capital Management LLC acquired a new stake in Assertio in the second quarter valued at $77,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Assertio in the second quarter valued at $149,000. Hedge funds and other institutional investors own 48.96% of the company’s stock.

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.