Assertio (NASDAQ:ASRT) Receives Buy Rating from HC Wainwright

Assertio (NASDAQ:ASRT - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $4.00 price target on the stock. HC Wainwright's price target points to a potential upside of 325.53% from the stock's current price.

Separately, StockNews.com upgraded Assertio from a "hold" rating to a "buy" rating in a research report on Wednesday, November 13th.

Assertio Price Performance

Assertio stock traded up $0.02 during midday trading on Monday, hitting $0.94. 644,607 shares of the company's stock were exchanged, compared to its average volume of 928,794. The company has a market cap of $89.75 million, a P/E ratio of -1.29 and a beta of 0.82. 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 stock has a 50-day moving average price of $1.01 and a two-hundred day moving average price of $1.17. Assertio has a 52-week low of $0.73 and a 52-week high of $1.80.

Assertio (NASDAQ:ASRT - Get Free Report) last posted 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 company had revenue of $29.20 million for the quarter, compared to analysts' expectations of $29.29 million. During the same period in the prior year, the business earned ($0.01) earnings per share. On average, equities research analysts forecast that Assertio will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Heather L. Mason acquired 75,000 shares of the stock in a transaction dated Monday, November 18th. The stock was purchased at an average cost of $0.80 per share, with a total value of $60,000.00. Following the completion of the purchase, the director now owns 287,650 shares in the company, valued at approximately $230,120. The trade was a 35.27 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Assertio

A number of large investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. raised its stake in Assertio by 304.0% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company's stock worth $60,000 after buying an additional 38,000 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Assertio during the second quarter valued at approximately $77,000. Point72 DIFC Ltd purchased a new stake in shares of Assertio in the 2nd quarter worth about $40,000. Renaissance Technologies LLC increased its stake in shares of Assertio by 13.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,377,614 shares of the company's stock worth $2,948,000 after acquiring an additional 285,655 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in Assertio by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 431,913 shares of the company's stock valued at $510,000 after acquiring an additional 21,976 shares during the period. 48.96% of the stock is currently owned by institutional investors.

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.