StockNews.com Upgrades Assertio (NASDAQ:ASRT) to “Buy”

Assertio (NASDAQ:ASRT) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Assertio Stock Performance

NASDAQ ASRT opened at $1.06 on Tuesday. The company has a current ratio of 1.83, a quick ratio of 1.43 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $100.35 million, a PE ratio of -0.27 and a beta of 1.00. The business’s 50-day moving average price is $0.94 and its 200 day moving average price is $1.08. Assertio has a twelve month low of $0.73 and a twelve month high of $8.01.

Assertio (NASDAQ:ASRT) last released its earnings results on Monday, March 11th. The company reported $0.08 earnings per share (EPS) for the quarter. Assertio had a negative net margin of 218.28% and a positive return on equity of 6.30%. The firm had revenue of $32.99 million during the quarter, compared to the consensus estimate of $31.42 million. On average, research analysts predict that Assertio will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASRT. Russell Investments Group Ltd. raised its holdings in shares of Assertio by 22,096.2% in the 1st 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 during the period. Empowered Funds LLC grew its stake in Assertio by 8.2% during the first quarter. Empowered Funds LLC now owns 380,417 shares of the company’s stock worth $365,000 after buying an additional 28,809 shares during the period. TSP Capital Management Group LLC grew its stake in Assertio by 18.5% during the first quarter. TSP Capital Management Group LLC now owns 214,500 shares of the company’s stock worth $206,000 after buying an additional 33,550 shares during the period. Denali Advisors LLC increased its position in shares of Assertio by 286.9% in the first quarter. Denali Advisors LLC now owns 165,200 shares of the company’s stock worth $158,000 after acquiring an additional 122,500 shares in the last quarter. Finally, Armistice Capital LLC raised its stake in shares of Assertio by 47.8% in the 4th quarter. Armistice Capital LLC now owns 5,800,000 shares of the company’s stock valued at $6,206,000 after acquiring an additional 1,876,000 shares during the period. 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.