Assertio (NASDAQ:ASRT) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Assertio (NASDAQ:ASRT) issued its quarterly earnings results on Monday. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08), Zacks reports. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. The company had revenue of $26.49 million for the quarter, compared to the consensus estimate of $27.52 million. During the same period in the previous year, the business posted $0.04 EPS.

Assertio Stock Performance

Shares of NASDAQ:ASRT traded down $0.01 during trading hours on Tuesday, hitting $0.61. The stock had a trading volume of 605,677 shares, compared to its average volume of 394,847. Assertio has a 1-year low of $0.51 and a 1-year high of $1.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.57 and a current ratio of 2.01. The firm has a market capitalization of $58.30 million, a price-to-earnings ratio of -0.83, a PEG ratio of 3.25 and a beta of 0.32. The stock’s fifty day simple moving average is $0.66 and its 200 day simple moving average is $0.81.

Analysts Set New Price Targets

A number of brokerages have issued reports on ASRT. HC Wainwright cut their target price on shares of Assertio from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Wednesday, March 19th. StockNews.com cut shares of Assertio from a “buy” rating to a “hold” rating in a report on Monday. Finally, Industrial Alliance Securities set a $1.75 target price on shares of Assertio in a report on Friday, March 14th.

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.