Assertio (NASDAQ:ASRT) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Assertio (NASDAQ:ASRT) in a research report report published on Monday morning,Benzinga reports. They currently have a $4.00 target price 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 note on Wednesday, November 13th.

Assertio Stock Performance

Shares of ASRT stock opened at $0.98 on Monday. Assertio has a 12 month low of $0.73 and a 12 month high of $1.80. The company’s fifty day simple moving average is $1.06 and its 200-day simple moving average is $1.17. The firm has a market cap of $93.33 million, a PE ratio of -1.34 and a beta of 0.83. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings results on Monday, November 11th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $29.20 million for the quarter, compared to analysts’ expectations of $29.29 million. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. During the same period in the previous year, the firm posted ($0.01) EPS. Equities research analysts expect that Assertio will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Heather L. Mason acquired 75,000 shares of Assertio stock in a transaction on Monday, November 18th. The stock was purchased 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 in the company, valued at $230,120. This trade represents a 35.27 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Assertio

Hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors bought a new position in Assertio in the 3rd quarter valued at about $26,000. Point72 DIFC Ltd acquired a new stake in Assertio during the 2nd quarter worth approximately $40,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Assertio by 304.0% in the 3rd 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 position in Assertio in the 2nd quarter valued at $70,000. Finally, Los Angeles Capital Management LLC bought a new position in Assertio during the 2nd quarter worth $77,000. Institutional investors and hedge funds own 48.96% of the company’s stock.

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.