Assertio (NASDAQ:ASRT) Now Covered by Analysts at Maxim Group

Maxim Group began coverage on shares of Assertio (NASDAQ:ASRT) in a report published on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $3.00 price target on the stock.

Several other equities analysts have also commented on the company. HC Wainwright started coverage on Assertio in a research note on Wednesday, July 3rd. They issued a buy rating and a $4.00 target price for the company. Alliance Global Partners started coverage on Assertio in a research note on Tuesday, May 28th. They issued a buy rating and a $2.75 target price for the company. Finally, StockNews.com lowered Assertio from a buy rating to a hold rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Assertio currently has an average rating of Moderate Buy and a consensus price target of $4.15.

Assertio Stock Performance

NASDAQ ASRT opened at $1.51 on Friday. Assertio has a fifty-two week low of $0.73 and a fifty-two week high of $5.78. The stock has a market cap of $143.16 million, a price-to-earnings ratio of -0.38 and a beta of 0.90. The business has a fifty day moving average of $1.25 and a 200-day moving average of $1.03. The company has a quick ratio of 1.45, a current ratio of 1.87 and a debt-to-equity ratio of 0.29.

Assertio (NASDAQ:ASRT) last released its quarterly earnings results on Monday, May 6th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Assertio had a positive return on equity of 10.80% and a negative net margin of 234.40%. The company had revenue of $32.45 million during the quarter, compared to analysts’ expectations of $28.93 million. As a group, analysts predict that Assertio will post -0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Assertio

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASRT. SG Americas Securities LLC increased its stake in Assertio by 45.4% during the fourth quarter. SG Americas Securities LLC now owns 55,769 shares of the company’s stock worth $60,000 after acquiring an additional 17,417 shares during the last quarter. Senvest Management LLC acquired a new stake in Assertio during the fourth quarter worth about $602,000. Armistice Capital LLC increased its stake in Assertio by 47.8% during the fourth quarter. Armistice Capital LLC now owns 5,800,000 shares of the company’s stock worth $6,206,000 after acquiring an additional 1,876,000 shares during the last quarter. Denali Advisors LLC boosted its position in shares of Assertio by 286.9% in the first quarter. Denali Advisors LLC now owns 165,200 shares of the company’s stock worth $158,000 after buying an additional 122,500 shares during the period. Finally, TSP Capital Management Group LLC boosted its position in shares of Assertio by 18.5% in the first quarter. TSP Capital Management Group LLC now owns 214,500 shares of the company’s stock worth $206,000 after buying an additional 33,550 shares during the period. 48.96% of the stock is currently owned by institutional investors and hedge funds.

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.