Assertio (NASDAQ:ASRT) Sees Strong Trading Volume – Should You Buy?

Shares of Assertio Holdings, Inc. (NASDAQ:ASRT) saw an uptick in trading volume on Friday . 26,361 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 23,418 shares.The stock last traded at $9.85 and had previously closed at $9.8985.

Analyst Ratings Changes

Several brokerages have recently weighed in on ASRT. Weiss Ratings restated a “sell (d-)” rating on shares of Assertio in a report on Wednesday, October 8th. Zacks Research raised Assertio from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Wall Street Zen upgraded Assertio to a “buy” rating in a research note on Saturday, November 22nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Assertio presently has a consensus rating of “Hold” and an average target price of $2.38.

Assertio Price Performance

The company’s 50-day moving average price is $0.76 and its two-hundred day moving average price is $0.77. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.58 and a quick ratio of 1.43. The company has a market capitalization of $962.50 million, a P/E ratio of -32.26 and a beta of 0.55.

Assertio (NASDAQ:ASRT) last released its quarterly earnings results on Monday, November 10th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.19. Assertio had a negative net margin of 21.06% and a negative return on equity of 26.99%. The firm had revenue of $49.46 million for the quarter, compared to analysts’ expectations of $27.02 million. As a group, sell-side analysts expect that Assertio Holdings, Inc. will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Assertio

A number of hedge funds have recently bought and sold shares of ASRT. Nantahala Capital Management LLC increased its stake in Assertio by 3.6% during the 1st quarter. Nantahala Capital Management LLC now owns 8,439,762 shares of the company’s stock worth $5,693,000 after acquiring an additional 291,426 shares during the period. Belpointe Asset Management LLC bought a new position in shares of Assertio in the 1st quarter worth about $65,000. TSP Capital Management Group LLC raised its position in shares of Assertio by 12.2% during the second quarter. TSP Capital Management Group LLC now owns 316,875 shares of the company’s stock worth $203,000 after purchasing an additional 34,550 shares during the period. Vanguard Group Inc. lifted its position in Assertio by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,425,543 shares of the company’s stock valued at $3,899,000 after acquiring an additional 41,332 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Assertio by 536.0% during the 3rd quarter. GSA Capital Partners LLP now owns 381,584 shares of the company’s stock worth $336,000 after acquiring an additional 321,584 shares during the last quarter. 48.96% of the stock is owned by institutional investors.

About Assertio

Assertio Therapeutics, Inc, formerly known as Depomed, is a specialty pharmaceutical company focused on the development and commercialization of therapies for central nervous system (CNS) disorders, including neuropathic pain, migraine and breakthrough cancer pain. The company’s commercial portfolio includes three FDA-approved products—Qutenza (8% capsaicin) for postherpetic neuralgia, Butrans (buprenorphine) transdermal system for chronic pain and Onsolis (fentanyl buccal soluble film) for breakthrough cancer pain—which are marketed primarily in the United States under licensing agreements with global partners.

In addition to its marketed therapies, Assertio maintains a pipeline of preclinical and clinical-stage candidates targeting a range of pain and neurological conditions.