Insider Buying: Assertio Holdings, Inc. (NASDAQ:ASRT) Director Acquires $60,000.00 in Stock

Assertio Holdings, Inc. (NASDAQ:ASRT - Get Free Report) Director Heather L. Mason acquired 75,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $0.80 per share, for a total transaction of $60,000.00. Following the completion of the transaction, the director now directly owns 287,650 shares in the company, valued at $230,120. This represents a 35.27 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Assertio Stock Performance

Shares of NASDAQ ASRT traded up $0.13 during trading on Tuesday, hitting $0.97. The company had a trading volume of 1,971,625 shares, compared to its average volume of 933,096. Assertio Holdings, Inc. has a 12 month low of $0.73 and a 12 month high of $1.80. 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 firm has a market capitalization of $93.08 million, a P/E ratio of -1.34 and a beta of 0.83. The stock has a 50 day simple moving average of $1.10 and a 200 day simple moving average of $1.18.

Assertio (NASDAQ:ASRT - Get Free Report) last issued its quarterly earnings results on Monday, November 11th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The business had revenue of $29.20 million for the quarter, compared to the consensus estimate of $29.29 million. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. As a group, analysts anticipate that Assertio Holdings, Inc. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Assertio

A number of institutional investors and hedge funds have recently bought and sold shares of ASRT. Geode Capital Management LLC grew its holdings in Assertio by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,074,852 shares of the company's stock valued at $1,269,000 after buying an additional 42,750 shares in the last quarter. XTX Topco Ltd purchased a new position in Assertio during the third quarter valued at $203,000. Captrust Financial Advisors bought a new stake in Assertio in the 3rd quarter valued at $26,000. Empowered Funds LLC lifted its stake in Assertio by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 431,913 shares of the company's stock worth $510,000 after purchasing an additional 21,976 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Assertio during the third quarter valued at about $177,000. 48.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com raised Assertio from a "hold" rating to a "buy" rating in a report on Wednesday, November 13th. Maxim Group started coverage on shares of Assertio in a research note on Friday, July 26th. They issued a "buy" rating and a $3.00 price objective on the 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.