Assertio (NASDAQ:ASRT) Upgraded at Zacks Research

Key Points

• Assertio was upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting a slight positive shift in analyst sentiment.
• Despite the upgrade, the stock has an average target price of $2.38 and currently trades around $0.86, indicating potential for growth.
• Recent quarterly earnings showed a reported loss of $0.17 per share, missing estimates, but revenue exceeded expectations at $29.22 million.

Assertio (NASDAQ:ASRT - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on ASRT. Weiss Ratings reissued a "sell (d-)" rating on shares of Assertio in a report on Wednesday, October 8th. HC Wainwright lowered their target price on Assertio from $3.50 to $3.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $2.38.

Assertio Stock Up 2.5%

Shares of ASRT stock opened at $0.86 on Monday. The stock's 50-day simple moving average is $0.84 and its 200-day simple moving average is $0.72. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.34 and a current ratio of 1.59. The firm has a market capitalization of $83.05 million, a PE ratio of -1.92 and a beta of 0.28. Assertio has a fifty-two week low of $0.51 and a fifty-two week high of $1.16.

Assertio (NASDAQ:ASRT - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.07). The firm had revenue of $29.22 million during the quarter, compared to analyst estimates of $27.86 million. Assertio had a negative net margin of 36.97% and a negative return on equity of 38.19%. Assertio has set its FY 2025 guidance at EPS. Equities analysts expect that Assertio will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Assertio

A number of hedge funds have recently bought and sold shares of ASRT. Nantahala Capital Management LLC boosted its position in Assertio by 4.4% during the second quarter. Nantahala Capital Management LLC now owns 8,810,073 shares of the company's stock worth $5,649,000 after purchasing an additional 370,311 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Assertio during the first quarter worth approximately $65,000. CM Management LLC boosted its position in Assertio by 18.8% during the first quarter. CM Management LLC now owns 475,000 shares of the company's stock worth $320,000 after purchasing an additional 75,000 shares in the last quarter. Finally, TSP Capital Management Group LLC boosted its position in Assertio by 12.2% during the second quarter. TSP Capital Management Group LLC now owns 316,875 shares of the company's stock worth $203,000 after purchasing an additional 34,550 shares in the last quarter. Hedge funds and other institutional investors 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.

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