Assertio Holdings, Inc. (NASDAQ:ASRT) Sees Significant Increase in Short Interest

Assertio Holdings, Inc. (NASDAQ:ASRT) saw a large growth in short interest in March. As of March 31st, there was short interest totaling 301,837 shares, a growth of 24.8% from the March 15th total of 241,932 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average trading volume of 217,451 shares, the days-to-cover ratio is currently 1.4 days.

Hedge Funds Weigh In On Assertio

Several large investors have recently modified their holdings of ASRT. Virtu Financial LLC bought a new stake in shares of Assertio during the 3rd quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Assertio during the fourth quarter worth approximately $41,000. Rothschild Wealth LLC acquired a new position in shares of Assertio in the fourth quarter valued at approximately $172,000. Perritt Capital Management Inc increased its stake in shares of Assertio by 51.6% during the third quarter. Perritt Capital Management Inc now owns 350,316 shares of the company’s stock worth $309,000 after purchasing an additional 119,281 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in Assertio by 536.0% during the 3rd quarter. GSA Capital Partners LLP now owns 381,584 shares of the company’s stock worth $336,000 after purchasing an additional 321,584 shares during the last quarter. 48.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ASRT has been the topic of a number of research reports. Wall Street Zen lowered shares of Assertio from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Zacks Research downgraded shares of Assertio from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Assertio in a research note on Wednesday, January 21st. Maxim Group downgraded shares of Assertio from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 9th. Finally, HC Wainwright restated a “neutral” rating and issued a $18.00 price objective (down from $35.00) on shares of Assertio in a report on Thursday, April 9th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Assertio presently has an average rating of “Hold” and an average price target of $18.00.

Assertio Trading Down 0.1%

Assertio stock opened at $18.01 on Friday. The stock has a 50-day simple moving average of $14.46 and a 200 day simple moving average of $12.52. The stock has a market capitalization of $116.04 million, a P/E ratio of -3.71 and a beta of 0.43. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.51 and a current ratio of 1.70. Assertio has a 52 week low of $8.55 and a 52 week high of $20.45.

Assertio (NASDAQ:ASRT) last released its quarterly earnings data on Monday, March 16th. The company reported ($1.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.05) by $1.19. The firm had revenue of $13.54 million for the quarter, compared to analyst estimates of $6.20 million. Assertio had a negative return on equity of 30.26% and a negative net margin of 25.59%. Analysts expect that Assertio will post -0.15 earnings per share for the current year.

About Assertio

Assertio Therapeutics, Inc, formerly known as Depomed, is a specialty pharmaceutical company focused on the development and commercialization of therapies for central nervous system (CNS) disorders, including neuropathic pain, migraine and breakthrough cancer pain. The company’s commercial portfolio includes three FDA-approved products—Qutenza (8% capsaicin) for postherpetic neuralgia, Butrans (buprenorphine) transdermal system for chronic pain and Onsolis (fentanyl buccal soluble film) for breakthrough cancer pain—which are marketed primarily in the United States under licensing agreements with global partners.

In addition to its marketed therapies, Assertio maintains a pipeline of preclinical and clinical-stage candidates targeting a range of pain and neurological conditions.