Deltec Asset Management LLC trimmed its stake in shares of Assertio Therapeutics, Inc. (NASDAQ:ASRT) by 24.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,700 shares of the company’s stock after selling 35,000 shares during the period. Deltec Asset Management LLC owned about 0.14% of Assertio Therapeutics worth $95,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Assertio Therapeutics by 20.6% during the second quarter. Nisa Investment Advisors LLC now owns 75,888 shares of the company’s stock valued at $65,000 after purchasing an additional 12,968 shares during the last quarter. TSP Capital Management Group LLC lifted its holdings in shares of Assertio Therapeutics by 84.4% during the second quarter. TSP Capital Management Group LLC now owns 504,400 shares of the company’s stock valued at $432,000 after purchasing an additional 230,800 shares during the last quarter. Ahrens Investment Partners LLC purchased a new stake in shares of Assertio Therapeutics during the second quarter valued at $51,000. Finally, Lenox Wealth Advisors LLC purchased a new stake in shares of Assertio Therapeutics during the second quarter valued at $427,000. 65.98% of the stock is owned by institutional investors and hedge funds.
ASRT has been the subject of several analyst reports. Brookline Capital Management initiated coverage on Assertio Therapeutics in a report on Wednesday, June 3rd. They set a “buy” rating and a $3.50 target price for the company. Zacks Investment Research downgraded Assertio Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th.
Shares of Assertio Therapeutics stock opened at $0.90 on Friday. The stock has a 50-day moving average price of $0.88 and a 200 day moving average price of $0.94. The company has a market cap of $78.53 million, a P/E ratio of -0.40 and a beta of 2.20. Assertio Therapeutics, Inc. has a 1 year low of $0.55 and a 1 year high of $3.54.
Assertio Therapeutics (NASDAQ:ASRT) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.18. The firm had revenue of $20.92 million during the quarter, compared to the consensus estimate of $11.30 million. Assertio Therapeutics had a negative return on equity of 110.00% and a negative net margin of 83.99%. Research analysts forecast that Assertio Therapeutics, Inc. will post -1.56 earnings per share for the current year.
About Assertio Therapeutics
Assertio Therapeutics, Inc, a specialty pharmaceutical company, engages in the development, sale, and licensing of products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the management of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; and Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults.
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