Assertio (NASDAQ:ASRT) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Assertio (NASDAQ:ASRT) released its earnings results on Monday. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02, Zacks reports. The business had revenue of $29.20 million during the quarter, compared to analyst estimates of $29.29 million. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.76%. During the same period in the prior year, the business earned ($0.01) earnings per share.

Assertio Trading Down 7.9 %

ASRT opened at $0.85 on Wednesday. Assertio has a 12-month low of $0.73 and a 12-month high of $1.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.51 and a current ratio of 1.93. The stock has a fifty day moving average of $1.14 and a 200-day moving average of $1.18.

Analyst Ratings Changes

Separately, Maxim Group assumed coverage on Assertio in a report on Friday, July 26th. They issued a “buy” rating and a $3.00 target price on the stock. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.25.

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.