Assertio (NASDAQ:ASRT) Issues Earnings Results

Assertio (NASDAQ:ASRT) released its earnings results on Monday. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02, Zacks reports. The firm had revenue of $29.20 million during the quarter, compared to the consensus estimate of $29.29 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 company posted ($0.01) EPS.

Assertio Trading Down 7.9 %

Shares of Assertio stock traded down $0.07 on Tuesday, hitting $0.85. The stock had a trading volume of 1,704,145 shares, compared to its average volume of 932,166. The stock has a 50 day moving average of $1.14 and a 200 day moving average of $1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.51 and a current ratio of 1.93. Assertio has a twelve month low of $0.73 and a twelve month high of $1.80. The firm has a market capitalization of $81.23 million, a P/E ratio of -0.21 and a beta of 0.83.

Wall Street Analysts Forecast Growth

Separately, Maxim Group began coverage on shares of Assertio in a research note on Friday, July 26th. They issued a “buy” rating and a $3.00 price objective on the stock. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.25.

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.