Sonora Investment Management Group LLC Acquires New Position in Assertio Holdings, Inc. (NASDAQ:ASRT)

Sonora Investment Management Group LLC acquired a new stake in shares of Assertio Holdings, Inc. (NASDAQ:ASRT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,735 shares of the company’s stock, valued at approximately $39,000.

A number of other institutional investors have also modified their holdings of the business. Captrust Financial Advisors acquired a new position in Assertio during the 3rd quarter valued at about $26,000. Point72 DIFC Ltd acquired a new position in Assertio during the 2nd quarter valued at about $40,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Assertio by 33.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 67,500 shares of the company’s stock valued at $59,000 after purchasing an additional 17,000 shares during the period. Marshall Wace LLP acquired a new position in Assertio during the 2nd quarter valued at about $70,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Assertio during the 2nd quarter valued at about $149,000. Institutional investors own 48.96% of the company’s stock.

Assertio Stock Down 2.8 %

ASRT stock opened at $0.80 on Friday. Assertio Holdings, Inc. has a 12 month low of $0.73 and a 12 month high of $1.80. The firm has a market cap of $76.63 million, a PE ratio of -1.10, a P/E/G ratio of 3.32 and a beta of 0.78. The firm has a 50 day simple moving average of $0.89 and a 200 day simple moving average of $1.08. 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 released its earnings results on Monday, November 11th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Assertio had a negative net margin of 54.46% and a positive return on equity of 3.79%. The business had revenue of $29.20 million during the quarter, compared to analyst estimates of $29.29 million. During the same period in the prior year, the business earned ($0.01) earnings per share. Equities research analysts forecast that Assertio Holdings, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ASRT shares. StockNews.com raised shares of Assertio from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price target on shares of Assertio in a research note on Monday, December 16th.

Insider Buying and Selling at Assertio

In other Assertio news, Director Heather L. Mason purchased 75,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $0.80 per share, for a total transaction of $60,000.00. Following the purchase, the director now directly owns 287,650 shares in the company, valued at $230,120. This trade represents a 35.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.20% of the company’s stock.

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.