HC Wainwright Forecasts Stronger Earnings for Assertio

Assertio Holdings, Inc. (NASDAQ:ASRT - Free Report) - Equities research analysts at HC Wainwright lifted their FY2024 earnings estimates for shares of Assertio in a report released on Monday, November 25th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($0.15) for the year, up from their prior estimate of ($0.19). HC Wainwright currently has a "Buy" rating and a $4.00 target price on the stock. The consensus estimate for Assertio's current full-year earnings is ($0.17) per share. HC Wainwright also issued estimates for Assertio's Q4 2024 earnings at ($0.04) EPS and Q1 2025 earnings at ($0.03) EPS.

Assertio (NASDAQ:ASRT - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $29.20 million for the quarter, compared to analysts' expectations of $29.29 million. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. During the same period in the previous year, the business posted ($0.01) earnings per share.

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

Assertio Stock Performance

ASRT remained flat at $0.98 during trading on Thursday. 225,760 shares of the company's stock were exchanged, compared to its average volume of 923,490. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30. Assertio has a 52-week low of $0.73 and a 52-week high of $1.80. The stock has a 50 day moving average price of $1.06 and a two-hundred day moving average price of $1.17. The stock has a market capitalization of $93.33 million, a PE ratio of -1.34 and a beta of 0.83.

Insider Activity at Assertio

In other news, Director Heather L. Mason bought 75,000 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $0.80 per share, for a total transaction of $60,000.00. Following the completion of the acquisition, the director now directly owns 287,650 shares in the company, valued at approximately $230,120. This represents a 35.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Assertio

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Assertio by 4.1% during the third quarter. Geode Capital Management LLC now owns 1,074,852 shares of the company's stock worth $1,269,000 after purchasing an additional 42,750 shares during the period. XTX Topco Ltd acquired a new stake in shares of Assertio during the 3rd quarter worth approximately $203,000. Captrust Financial Advisors bought a new stake in shares of Assertio in the 3rd quarter valued at $26,000. Empowered Funds LLC increased its stake in shares of Assertio by 5.4% in 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 in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Assertio during the 3rd quarter valued at $177,000. 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.