Denali Advisors LLC Buys 122,500 Shares of Assertio Holdings, Inc. (NASDAQ:ASRT)

Denali Advisors LLC grew its stake in shares of Assertio Holdings, Inc. (NASDAQ:ASRT) by 286.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 165,200 shares of the company’s stock after acquiring an additional 122,500 shares during the quarter. Denali Advisors LLC owned about 0.17% of Assertio worth $158,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in shares of Assertio by 45.4% during the fourth quarter. SG Americas Securities LLC now owns 55,769 shares of the company’s stock valued at $60,000 after acquiring an additional 17,417 shares in the last quarter. TSP Capital Management Group LLC grew its stake in shares of Assertio by 14.7% during the 4th quarter. TSP Capital Management Group LLC now owns 180,950 shares of the company’s stock valued at $194,000 after purchasing an additional 23,150 shares during the period. Alps Advisors Inc. grew its stake in shares of Assertio by 99.9% during the 3rd quarter. Alps Advisors Inc. now owns 110,594 shares of the company’s stock valued at $283,000 after acquiring an additional 55,259 shares during the period. Alethea Capital Management LLC bought a new position in shares of Assertio during the 3rd quarter valued at approximately $343,000. Finally, Worth Venture Partners LLC boosted its stake in Assertio by 903.4% in the 3rd quarter. Worth Venture Partners LLC now owns 230,773 shares of the company’s stock worth $591,000 after purchasing an additional 207,775 shares during the period. 48.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on ASRT shares. Alliance Global Partners assumed coverage on Assertio in a research report on Tuesday, May 28th. They set a “buy” rating and a $2.75 target price for the company. HC Wainwright began coverage on Assertio in a research report on Wednesday. They set a “buy” rating and a $4.00 price target on the stock. Finally, StockNews.com downgraded Assertio from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.44.

Assertio Stock Performance

Shares of NASDAQ ASRT traded up $0.21 during trading hours on Wednesday, reaching $1.36. The stock had a trading volume of 1,176,368 shares, compared to its average volume of 1,049,155. The firm has a market cap of $129.36 million, a price-to-earnings ratio of -0.32 and a beta of 0.90. The company has a current ratio of 1.87, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. Assertio Holdings, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $5.78. The firm has a 50-day moving average of $1.04 and a 200-day moving average of $0.96.

Assertio (NASDAQ:ASRT) last released its quarterly earnings data on Monday, May 6th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $32.45 million during the quarter, compared to the consensus estimate of $28.93 million. Assertio had a positive return on equity of 10.80% and a negative net margin of 234.40%. Equities research analysts predict that Assertio Holdings, Inc. will post -0.13 earnings per share for the current 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.