Assertio Holdings, Inc. (NASDAQ:ASRT) Shares Acquired by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC lifted its holdings in shares of Assertio Holdings, Inc. (NASDAQ:ASRT) by 9.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 185,961 shares of the company’s stock after buying an additional 15,863 shares during the period. Palumbo Wealth Management LLC owned approximately 0.20% of Assertio worth $219,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in Assertio in the second quarter valued at about $40,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in 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 period. Marshall Wace LLP acquired a new stake in Assertio in the second quarter valued at about $70,000. Los Angeles Capital Management LLC acquired a new stake in shares of Assertio during the 2nd quarter valued at approximately $77,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Assertio during the 2nd quarter valued at approximately $149,000. Institutional investors and hedge funds own 48.96% of the company’s stock.

Wall Street Analysts Forecast Growth

ASRT has been the subject of a number of research reports. Maxim Group initiated coverage on shares of Assertio in a research report on Friday, July 26th. They set a “buy” rating and a $3.00 price target for the company. HC Wainwright initiated coverage on shares of Assertio in a research report on Wednesday, July 3rd. They set a “buy” rating and a $4.00 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3.44.

Assertio Price Performance

Shares of ASRT traded down $0.02 during mid-day trading on Thursday, reaching $1.03. 50,667 shares of the company’s stock were exchanged, compared to its average volume of 916,588. The company has a quick ratio of 1.51, a current ratio of 1.93 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $1.18 and a two-hundred day simple moving average of $1.17. Assertio Holdings, Inc. has a 52-week low of $0.73 and a 52-week high of $2.37. The company has a market cap of $98.20 million, a price-to-earnings ratio of -0.27 and a beta of 0.79.

Assertio (NASDAQ:ASRT) last released its earnings results on Wednesday, August 7th. The company reported ($0.04) EPS 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 analysts’ expectations of $30.37 million. Assertio had a positive return on equity of 4.88% and a negative net margin of 261.08%. During the same period in the previous year, the firm posted $0.13 earnings per share. On average, sell-side analysts predict that Assertio Holdings, Inc. will post -0.17 EPS 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.