Assertio (NASDAQ:ASRT) Receives New Coverage from Analysts at Maxim Group

Maxim Group initiated coverage on shares of Assertio (NASDAQ:ASRT) in a research note issued to investors on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $3.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of Assertio from a buy rating to a hold rating in a research note on Wednesday, May 15th. Alliance Global Partners assumed coverage on shares of Assertio in a research note on Tuesday, May 28th. They issued a buy rating and a $2.75 price objective on the stock. Finally, HC Wainwright assumed coverage on shares of Assertio in a research note on Wednesday, July 3rd. They issued a buy rating and a $4.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Assertio presently has an average rating of Moderate Buy and a consensus target price of $4.15.

Assertio Stock Performance

Shares of Assertio stock opened at $1.46 on Friday. The firm’s fifty day simple moving average is $1.25 and its 200-day simple moving average is $1.03. The stock has a market capitalization of $138.88 million, a price-to-earnings ratio of -0.37 and a beta of 0.90. Assertio has a 12 month low of $0.73 and a 12 month high of $5.78. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.87 and a quick ratio of 1.45.

Assertio (NASDAQ:ASRT) last announced its earnings results on Monday, May 6th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $32.45 million for the quarter, compared to analysts’ expectations of $28.93 million. Assertio had a negative net margin of 234.40% and a positive return on equity of 10.80%. As a group, equities analysts forecast that Assertio will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Assertio

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in shares of Assertio by 45.4% during the 4th quarter. SG Americas Securities LLC now owns 55,769 shares of the company’s stock worth $60,000 after purchasing an additional 17,417 shares during the period. Denali Advisors LLC grew its stake in shares of Assertio by 286.9% during the 1st quarter. Denali Advisors LLC now owns 165,200 shares of the company’s stock worth $158,000 after purchasing an additional 122,500 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Assertio by 10.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 161,171 shares of the company’s stock worth $200,000 after purchasing an additional 15,779 shares during the period. TSP Capital Management Group LLC grew its stake in shares of Assertio by 18.5% during the 1st quarter. TSP Capital Management Group LLC now owns 214,500 shares of the company’s stock worth $206,000 after purchasing an additional 33,550 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of Assertio by 8.2% during the 1st quarter. Empowered Funds LLC now owns 380,417 shares of the company’s stock worth $365,000 after purchasing an additional 28,809 shares during the period. 48.96% of the stock is owned by institutional investors and hedge funds.

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.