StockNews.com Upgrades Assertio (NASDAQ:ASRT) to Buy

StockNews.com upgraded shares of Assertio (NASDAQ:ASRT) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Assertio Price Performance

ASRT stock opened at $1.05 on Tuesday. The company has a market capitalization of $99.88 million, a P/E ratio of -0.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.43 and a current ratio of 1.83. Assertio has a 52-week low of $0.73 and a 52-week high of $8.01. The company has a fifty day moving average price of $0.94 and a 200-day moving average price of $1.08.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. acquired a new stake in Assertio in the third quarter worth $32,000. Strs Ohio purchased a new position in shares of Assertio during the third quarter valued at approximately $33,000. Barclays PLC grew its holdings in Assertio by 32.1% during the third quarter. Barclays PLC now owns 22,990 shares of the company’s stock worth $59,000 after buying an additional 5,588 shares in the last quarter. SG Americas Securities LLC lifted its stake in Assertio by 45.4% during the 4th quarter. SG Americas Securities LLC now owns 55,769 shares of the company’s stock valued at $60,000 after acquiring an additional 17,417 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Assertio by 61.9% during the third quarter. State Board of Administration of Florida Retirement System now owns 25,370 shares of the company’s stock valued at $65,000 after purchasing an additional 9,700 shares in the last quarter. 48.96% of the stock is owned by institutional investors and hedge funds.

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.