Assertio’s (ASRT) Buy Rating Reiterated at HC Wainwright

Assertio (NASDAQ:ASRT)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $4.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 325.17% from the stock’s previous close.

Separately, StockNews.com upgraded shares of 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 $0.94 on Monday. The company has a market capitalization of $89.83 million, a price-to-earnings ratio of -1.29 and a beta of 0.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.57 and a current ratio of 2.01. The company has a 50-day simple moving average of $1.08 and a 200 day simple moving average of $1.17. Assertio has a 52 week low of $0.73 and a 52 week high of $1.80.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings data on Monday, November 11th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $29.20 million during the quarter, compared to analysts’ expectations of $29.29 million. During the same quarter in the previous year, the company earned ($0.01) EPS. On average, sell-side analysts predict that Assertio will post -0.17 earnings per share for the current year.

Insider Activity

In other news, Director Heather L. Mason bought 75,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $0.80 per share, for a total transaction of $60,000.00. Following the transaction, the director now owns 287,650 shares of the company’s stock, valued at $230,120. This represents a 35.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Assertio

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors acquired a new position in Assertio during the 3rd quarter worth approximately $26,000. Point72 DIFC Ltd acquired a new position in Assertio during the 2nd quarter worth approximately $40,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Assertio by 304.0% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock worth $60,000 after purchasing an additional 38,000 shares in the last quarter. Marshall Wace LLP acquired a new position in Assertio during the 2nd quarter worth approximately $70,000. Finally, Los Angeles Capital Management LLC acquired a new position in Assertio during the 2nd quarter worth approximately $77,000. 48.96% of the stock is currently owned by institutional investors and hedge funds.

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.