HC Wainwright Reaffirms “Buy” Rating for Assertio (NASDAQ:ASRT)

Assertio (NASDAQ:ASRT)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $3.50 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 425.68% from the stock’s previous close.

ASRT has been the subject of several other research reports. StockNews.com cut Assertio from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Alliance Global Partners restated a “buy” rating on shares of Assertio in a research report on Tuesday, May 13th. Finally, Industrial Alliance Securities set a $1.75 price target on shares of Assertio in a research report on Friday, March 14th.

Assertio Stock Performance

NASDAQ ASRT opened at $0.67 on Monday. The firm has a market cap of $63.77 million, a price-to-earnings ratio of -0.91, a price-to-earnings-growth ratio of 3.25 and a beta of 0.32. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $0.65 and a 200-day moving average price of $0.79. Assertio has a twelve month low of $0.51 and a twelve month high of $1.80.

Assertio (NASDAQ:ASRT) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). The business had revenue of $26.49 million during the quarter, compared to the consensus estimate of $27.52 million. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. During the same period last year, the company earned $0.04 EPS. As a group, equities research analysts predict that Assertio will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Assertio

Institutional investors have recently modified their holdings of the stock. Stifel Financial Corp bought a new stake in shares of Assertio in the 4th quarter valued at approximately $27,000. Commonwealth Equity Services LLC bought a new stake in shares of Assertio in the 4th quarter valued at approximately $30,000. Sonora Investment Management Group LLC bought a new stake in shares of Assertio in the 4th quarter valued at approximately $39,000. Wealthfront Advisers LLC bought a new stake in shares of Assertio in the 4th quarter valued at approximately $53,000. Finally, Marshall Wace LLP bought a new stake in shares of Assertio in the 4th quarter valued at approximately $64,000. 48.96% of the stock is owned by institutional investors.

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.