Assertio (NASDAQ:ASRT) Upgraded at StockNews.com

StockNews.com upgraded shares of Assertio (NASDAQ:ASRT) from a hold rating to a buy rating in a research note published on Tuesday.

Assertio Stock Performance

Shares of ASRT opened at $1.05 on Tuesday. The company has a market capitalization of $99.88 million, a PE ratio of -0.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.83 and a quick ratio of 1.43. Assertio has a one year low of $0.73 and a one year high of $8.01. The company’s fifty day moving average price is $0.94 and its 200 day moving average price is $1.08.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings results on Monday, March 11th. The company reported $0.08 earnings per share (EPS) for the quarter. Assertio had a positive return on equity of 6.30% and a negative net margin of 218.28%. The company had revenue of $32.99 million for the quarter, compared to the consensus estimate of $31.42 million. As a group, analysts expect that Assertio will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Assertio

Several hedge funds have recently modified their holdings of ASRT. SG Americas Securities LLC bought a new stake in shares of Assertio in the third quarter valued at about $98,000. Bank of New York Mellon Corp raised its stake in shares of Assertio by 23.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 571,072 shares of the company’s stock valued at $1,462,000 after buying an additional 108,720 shares in the last quarter. Strs Ohio bought a new position in shares of Assertio during the 3rd quarter worth about $33,000. Principal Financial Group Inc. acquired a new stake in Assertio during the third quarter valued at approximately $32,000. Finally, Jump Financial LLC boosted its holdings in Assertio by 636.4% during the third quarter. Jump Financial LLC now owns 76,237 shares of the company’s stock valued at $195,000 after purchasing an additional 65,884 shares in the last quarter. 48.96% of the stock is owned by institutional investors.

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.