HC Wainwright Reaffirms “Buy” Rating for Assertio (NASDAQ:ASRT)

Assertio (NASDAQ:ASRT)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $3.50 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 425.68% from the stock’s previous close.

ASRT has been the subject of a number of other research reports. StockNews.com cut Assertio from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. Alliance Global Partners reiterated a “buy” rating on shares of Assertio in a research note on Tuesday, May 13th. Finally, Industrial Alliance Securities set a $1.75 price objective on Assertio in a research note on Friday, March 14th.

Assertio Trading Up 4.1%

Shares of NASDAQ ASRT opened at $0.67 on Monday. 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 business’s 50 day moving average price is $0.65 and its 200-day moving average price is $0.79. Assertio has a fifty-two week low of $0.51 and a fifty-two week high of $1.80. The company has a market cap of $63.77 million, a price-to-earnings ratio of -0.91, a PEG ratio of 3.25 and a beta of 0.32.

Assertio (NASDAQ:ASRT) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The firm had revenue of $26.49 million for the quarter, compared to analysts’ expectations of $27.52 million. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. During the same quarter in the previous year, the business earned $0.04 earnings per share. On average, sell-side analysts expect that Assertio will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp acquired a new position in Assertio in the fourth quarter valued at approximately $27,000. Commonwealth Equity Services LLC purchased a new stake in Assertio in the fourth quarter valued at approximately $30,000. Sonora Investment Management Group LLC purchased a new stake in shares of Assertio during the fourth quarter worth $39,000. Wealthfront Advisers LLC purchased a new stake in shares of Assertio during the fourth quarter worth $53,000. Finally, Marshall Wace LLP purchased a new stake in shares of Assertio during the fourth quarter worth $64,000. 48.96% of the stock is currently owned by institutional investors and hedge funds.

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.