Sidoti Csr Issues Negative Forecast for Assertio Earnings

Assertio Holdings, Inc. (NASDAQ:ASRT - Free Report) - Analysts at Sidoti Csr reduced their Q3 2024 earnings per share (EPS) estimates for Assertio in a report released on Wednesday, November 6th. Sidoti Csr analyst J. Sidoti now forecasts that the company will earn ($0.04) per share for the quarter, down from their prior forecast of ($0.03). The consensus estimate for Assertio's current full-year earnings is ($0.17) per share. Sidoti Csr also issued estimates for Assertio's FY2024 earnings at ($0.16) EPS.

Separately, Maxim Group initiated coverage on shares of Assertio in a research report on Friday, July 26th. They issued a "buy" rating and a $3.00 price objective for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $3.25.

Assertio Price Performance

Shares of Assertio stock traded down $0.18 on Friday, hitting $0.83. The company's stock had a trading volume of 4,143,325 shares, compared to its average volume of 920,395. The company has a quick ratio of 1.51, a current ratio of 1.93 and a debt-to-equity ratio of 0.29. Assertio has a 52-week low of $0.73 and a 52-week high of $1.80. The company has a market capitalization of $78.90 million, a P/E ratio of -0.21 and a beta of 0.83. The firm has a fifty day moving average price of $1.15 and a 200-day moving average price of $1.17.

Assertio (NASDAQ:ASRT - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.02). The company had revenue of $31.13 million for the quarter, compared to analysts' expectations of $30.37 million. Assertio had a positive return on equity of 4.88% and a negative net margin of 261.08%. During the same period in the prior year, the firm posted $0.13 EPS.

Institutional Investors Weigh In On Assertio

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Assertio by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company's stock valued at $4,719,000 after purchasing an additional 41,071 shares during the period. Renaissance Technologies LLC boosted its stake in 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 purchasing an additional 285,655 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Assertio by 22,096.2% in the first quarter. Russell Investments Group Ltd. now owns 2,347,024 shares of the company's stock worth $2,251,000 after purchasing an additional 2,336,450 shares in the last quarter. Empowered Funds LLC grew its stake in Assertio by 5.4% in the third quarter. Empowered Funds LLC now owns 431,913 shares of the company's stock valued at $510,000 after purchasing an additional 21,976 shares in the last quarter. Finally, Perritt Capital Management Inc grew its stake in shares of Assertio by 16.1% in the 2nd quarter. Perritt Capital Management Inc now owns 426,850 shares of the company's stock valued at $529,000 after buying an additional 59,333 shares in 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.