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

HC Wainwright reaffirmed their buy rating on shares of Assertio (NASDAQ:ASRT - Free Report) in a research note issued to investors on Monday,Benzinga reports. HC Wainwright currently has a $3.50 price target on the stock.

Several other equities research analysts have also commented on the stock. Wall Street Zen lowered shares of Assertio from a "buy" rating to a "hold" rating in a report on Monday, May 12th. Industrial Alliance Securities set a $1.75 target price on shares of Assertio in a report on Friday, March 14th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Assertio in a report on Tuesday, May 13th.

Assertio Stock Performance

NASDAQ ASRT traded down $0.01 on Monday, hitting $0.70. 139,093 shares of the company's stock traded hands, compared to its average volume of 679,083. The company has a current ratio of 2.01, a quick ratio of 1.57 and a debt-to-equity ratio of 0.30. Assertio has a 1-year low of $0.51 and a 1-year high of $1.80. The firm's 50-day moving average price is $0.64 and its two-hundred day moving average price is $0.78. The firm has a market capitalization of $67.33 million, a PE ratio of -0.96, a P/E/G ratio of 3.25 and a beta of 0.32.

Assertio (NASDAQ:ASRT - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The firm had revenue of $26.49 million for the quarter, compared to analysts' expectations of $27.52 million. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. During the same period last year, the firm earned $0.04 earnings per share. As a group, analysts expect that Assertio will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Nantahala Capital Management LLC boosted its position in shares of Assertio by 3.6% during the 1st quarter. Nantahala Capital Management LLC now owns 8,439,762 shares of the company's stock valued at $5,693,000 after acquiring an additional 291,426 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Assertio by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,095,911 shares of the company's stock valued at $955,000 after acquiring an additional 21,059 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Assertio by 3.9% during the 4th quarter. Two Sigma Investments LP now owns 910,046 shares of the company's stock valued at $793,000 after acquiring an additional 34,004 shares during the last quarter. CM Management LLC boosted its position in shares of Assertio by 18.8% during the 1st quarter. CM Management LLC now owns 475,000 shares of the company's stock valued at $320,000 after acquiring an additional 75,000 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Assertio by 5.4% during the 4th quarter. Empowered Funds LLC now owns 455,282 shares of the company's stock valued at $397,000 after acquiring an additional 23,369 shares during the last quarter. Institutional investors and hedge funds own 48.96% of the company's stock.

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.