HC Wainwright Analysts Boost Earnings Estimates for Assertio

Assertio Holdings, Inc. (NASDAQ:ASRT) – Equities researchers at HC Wainwright lifted their FY2024 earnings estimates for Assertio in a research report issued to clients and investors on Monday, November 25th. HC Wainwright analyst R. Selvaraju now forecasts that the company will earn ($0.15) per share for the year, up from their previous forecast of ($0.19). HC Wainwright currently has a “Buy” rating and a $4.00 target price on the stock. The consensus estimate for Assertio’s current full-year earnings is ($0.17) per share. HC Wainwright also issued estimates for Assertio’s Q4 2024 earnings at ($0.04) EPS and Q1 2025 earnings at ($0.03) EPS.

Separately, StockNews.com raised Assertio from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.

Assertio Price Performance

Shares of Assertio stock opened at $0.98 on Thursday. The stock’s 50-day moving average is $1.06 and its 200 day moving average is $1.17. Assertio has a one year low of $0.73 and a one year high of $1.80. The firm has a market cap of $93.33 million, a price-to-earnings ratio of -1.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.01 and a quick ratio of 1.57.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings results on Monday, November 11th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $29.20 million during the quarter, compared to the consensus estimate of $29.29 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 business posted ($0.01) EPS.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors acquired a new stake in shares of Assertio in the 3rd quarter worth about $26,000. Point72 DIFC Ltd bought a new position in shares of Assertio in the second quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Assertio by 304.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock worth $60,000 after buying an additional 38,000 shares in the last quarter. Marshall Wace LLP purchased a new stake in Assertio in the 2nd quarter valued at $70,000. Finally, Los Angeles Capital Management LLC bought a new position in Assertio during the 2nd quarter valued at $77,000. Institutional investors and hedge funds own 48.96% of the company’s stock.

Insider Activity

In other Assertio news, Director Heather L. Mason purchased 75,000 shares of Assertio stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price of $0.80 per share, with a total value of $60,000.00. Following the transaction, the director now owns 287,650 shares in the company, valued at $230,120. This trade represents a 35.27 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by company insiders.

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.