Assertio (NASDAQ:ASRT) Posts Earnings Results, Beats Expectations By $0.19 EPS

Assertio (NASDAQ:ASRT) posted its earnings results on Monday. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.19, Zacks reports. Assertio had a negative return on equity of 38.19% and a negative net margin of 36.97%. Assertio updated its FY 2025 guidance to EPS.

Assertio Stock Up 5.3%

ASRT stock traded up $0.04 on Monday, reaching $0.80. 1,301,111 shares of the company traded hands, compared to its average volume of 314,125. The firm has a fifty day simple moving average of $0.84 and a 200-day simple moving average of $0.74. The company has a market cap of $77.09 million, a P/E ratio of -1.78 and a beta of 0.25. Assertio has a one year low of $0.51 and a one year high of $1.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.59 and a quick ratio of 1.34.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ASRT shares. Zacks Research upgraded shares of Assertio from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. HC Wainwright cut their target price on shares of Assertio from $3.50 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Assertio in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Assertio currently has a consensus rating of “Hold” and an average price target of $2.38.

Institutional Investors Weigh In On Assertio

A hedge fund recently raised its stake in Assertio stock. Nantahala Capital Management LLC boosted its holdings in shares of Assertio Holdings, Inc. (NASDAQ:ASRT) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,810,073 shares of the company’s stock after buying an additional 370,311 shares during the quarter. Nantahala Capital Management LLC owned approximately 9.15% of Assertio worth $5,649,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 48.96% of the company’s stock.

About Assertio

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.