Assertio (NASDAQ:ASRT) Stock Price Up 3.9% – Here’s What Happened

Assertio Holdings, Inc. (NASDAQ:ASRT)’s share price was up 3.9% on Monday . The company traded as high as $12.36 and last traded at $12.24. Approximately 37,773 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 50,142 shares. The stock had previously closed at $11.78.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Assertio to a “buy” rating in a report on Saturday, November 22nd. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective (up from $3.00) on shares of Assertio in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Assertio in a research report on Wednesday, January 21st. Finally, Zacks Research raised Assertio from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.63.

Assertio Price Performance

The stock has a market cap of $78.58 million, a PE ratio of -2.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.43 and a current ratio of 1.58. The business has a 50 day moving average price of $10.83 and a two-hundred day moving average price of $11.63.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings results on Monday, November 10th. The company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of ($1.20) by $2.85. Assertio had a negative return on equity of 26.99% and a negative net margin of 21.06%.The company had revenue of $49.46 million during the quarter, compared to the consensus estimate of $27.02 million. Research analysts expect that Assertio Holdings, Inc. will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Assertio

A number of hedge funds and other institutional investors have recently made changes to their positions in ASRT. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Assertio during the fourth quarter worth about $41,000. Perritt Capital Management Inc grew its position in shares of Assertio by 51.6% during the 3rd quarter. Perritt Capital Management Inc now owns 350,316 shares of the company’s stock valued at $309,000 after acquiring an additional 119,281 shares during the period. Virtu Financial LLC purchased a new stake in shares of Assertio during the 3rd quarter worth approximately $26,000. GSA Capital Partners LLP raised its holdings in shares of Assertio by 536.0% in 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 period. Finally, Vanguard Group Inc. lifted its stake in Assertio by 0.9% in the third quarter. Vanguard Group Inc. now owns 4,425,543 shares of the company’s stock valued at $3,899,000 after purchasing an additional 41,332 shares during the last quarter. 48.96% of the stock is owned by hedge funds and other institutional investors.

Assertio Company Profile

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.