Assertio (NASDAQ:ASRT) Issues Earnings Results, Beats Expectations By $0.02 EPS

Assertio (NASDAQ:ASRT) released its earnings results on Monday. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02, Zacks reports. Assertio had a negative net margin of 261.08% and a positive return on equity of 4.88%. The firm had revenue of $29.20 million for the quarter, compared to analysts’ expectations of $29.29 million. During the same period in the previous year, the company earned ($0.01) earnings per share.

Assertio Price Performance

Shares of NASDAQ ASRT traded down $0.07 during trading hours on Tuesday, reaching $0.85. 1,704,145 shares of the stock traded hands, compared to its average volume of 932,166. The company’s 50-day simple moving average is $1.14 and its two-hundred day simple moving average is $1.18. The company has a market capitalization of $81.23 million, a P/E ratio of -0.21 and a beta of 0.83. Assertio has a 52-week low of $0.73 and a 52-week high of $1.80. The company has a quick ratio of 1.51, a current ratio of 1.93 and a debt-to-equity ratio of 0.29.

Analyst Ratings Changes

Separately, Maxim Group started coverage on Assertio in a research report on Friday, July 26th. They set a “buy” rating and a $3.00 price target on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.