Short Interest in Assertio Holdings, Inc. (NASDAQ:ASRT) Drops By 6.5%

Assertio Holdings, Inc. (NASDAQ:ASRT) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 5,910,000 shares, a decrease of 6.5% from the December 15th total of 6,320,000 shares. Based on an average daily volume of 764,400 shares, the days-to-cover ratio is currently 7.7 days.

Analysts Set New Price Targets

Several equities research analysts have issued reports 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 set a $4.00 price objective on shares of Assertio in a report on Monday, December 16th.

Insider Transactions at Assertio

In other Assertio news, Director Heather L. Mason purchased 75,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average price of $0.80 per share, for a total transaction of $60,000.00. Following the transaction, the director now owns 287,650 shares in the company, valued at $230,120. The trade was a 35.27 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ASRT. Captrust Financial Advisors purchased a new stake in Assertio during the 3rd quarter valued at $26,000. Point72 DIFC Ltd bought a new position in shares of Assertio during the second quarter valued at about $40,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Assertio by 33.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 67,500 shares of the company’s stock valued at $59,000 after acquiring an additional 17,000 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Assertio during the second quarter worth about $70,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Assertio in the second quarter worth about $149,000. Institutional investors own 48.96% of the company’s stock.

Assertio Stock Up 2.8 %

Assertio stock traded up $0.02 during mid-day trading on Friday, hitting $0.83. The company’s stock had a trading volume of 434,499 shares, compared to its average volume of 617,435. The business has a 50 day moving average price of $0.90 and a 200-day moving average price of $1.13. 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 has a 12 month low of $0.73 and a 12 month high of $1.80.

Assertio (NASDAQ:ASRT) last issued its earnings results on Monday, November 11th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $29.20 million during the quarter, compared to analysts’ expectations of $29.29 million. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. During the same period in the prior year, the business posted ($0.01) EPS. Research analysts anticipate that Assertio will post -0.15 earnings per share for the current 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.