StockNews.com cut shares of Assertio (NASDAQ:ASRT - Free Report) from a buy rating to a hold rating in a research note released on Wednesday.
Assertio Stock Performance
Shares of NASDAQ ASRT remained flat at $1.01 during mid-day trading on Wednesday. 714,547 shares of the stock traded hands, compared to its average volume of 1,032,052. Assertio has a 12 month low of $0.73 and a 12 month high of $7.40. The firm's fifty day moving average price is $0.95 and its two-hundred day moving average price is $1.04. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.87. The firm has a market cap of $96.07 million, a P/E ratio of -0.26 and a beta of 1.00.
Assertio (NASDAQ:ASRT - Get Free Report) last released its quarterly earnings results on Monday, March 11th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $32.99 million during the quarter, compared to analysts' expectations of $31.42 million. Assertio had a positive return on equity of 10.80% and a negative net margin of 234.40%. As a group, equities research analysts predict that Assertio will post -0.13 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Assertio
Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. bought a new position in Assertio in the 3rd quarter worth approximately $32,000. Strs Ohio acquired a new position in shares of Assertio during the third quarter valued at $33,000. Barclays PLC boosted its holdings in Assertio by 32.1% in the third quarter. Barclays PLC now owns 22,990 shares of the company's stock valued at $59,000 after acquiring an additional 5,588 shares during the last quarter. SG Americas Securities LLC increased its position in Assertio by 45.4% in the fourth quarter. SG Americas Securities LLC now owns 55,769 shares of the company's stock worth $60,000 after purchasing an additional 17,417 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in Assertio by 61.9% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 25,370 shares of the company's stock worth $65,000 after purchasing an additional 9,700 shares during the last quarter. 48.96% of the stock is owned by institutional investors.
About Assertio
(
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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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