HC Wainwright Reaffirms Buy Rating for Assertio (NASDAQ:ASRT)

HC Wainwright reaffirmed their buy rating on shares of Assertio (NASDAQ:ASRT) in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a $4.00 price target on the stock. HC Wainwright also issued estimates for Assertio’s Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.15) EPS and Q1 2025 earnings at ($0.03) EPS.

Separately, StockNews.com upgraded Assertio from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

Assertio Price Performance

Shares of ASRT opened at $0.98 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.01 and a quick ratio of 1.57. Assertio has a one year low of $0.73 and a one year high of $1.80. The company has a market cap of $93.33 million, a P/E ratio of -1.34 and a beta of 0.83. The firm has a 50 day simple moving average of $1.06 and a two-hundred day simple moving average of $1.17.

Assertio (NASDAQ:ASRT) last posted its earnings results on Monday, November 11th. The company reported ($0.03) earnings per share for the quarter, topping 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 analysts’ expectations of $29.29 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. Research analysts forecast that Assertio will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Heather L. Mason purchased 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $0.80 per share, with a total value of $60,000.00. Following the completion of the transaction, the director now directly owns 287,650 shares of the company’s stock, valued at approximately $230,120. This trade represents a 35.27 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Assertio

Several hedge funds have recently made changes to their positions in ASRT. Captrust Financial Advisors purchased a new position in shares of Assertio during the third quarter worth about $26,000. Point72 DIFC Ltd bought a new stake in shares of Assertio during the 2nd quarter valued at about $40,000. Thurston Springer Miller Herd & Titak Inc. lifted its position 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 valued at $60,000 after buying an additional 38,000 shares during the period. Marshall Wace LLP bought a new position in Assertio during the 2nd quarter valued at approximately $70,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Assertio during the second quarter valued at approximately $77,000. 48.96% of the stock is currently 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.