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Assertio Holdings Inc. (ASRT) – Don’t Be So Quick to Call it Dead

Assertio Holdings Inc. (NASDAQ: ASRT) is 52.79% higher on its value in year-to-date trading and has touched a low of $2.07 and a high of $8.01 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ASRT stock was last observed hovering at around $6.60 in the last trading session, with the day’s loss setting it -0.03% off its average median price target of $10.00 for the next 12 months. It is also 34.3% off the consensus price target high of $10.00 offered by 3 analysts, but current levels are 27.0% higher than the price target low of $9.00 for the same period.

Currently trading at $6.57, the stock is 0.71% and 5.55% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.33 million and changing -0.45% at the moment leaves the stock 57.73% off its SMA200. ASRT registered 112.62% gain for a year compared to 6-month gain of 132.16%. The firm has a 50-day simple moving average (SMA 50) of $2.64 and a 200-day simple moving average (SMA200) of $8.03.

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The stock witnessed a 22.35% loss in the last 1 month and extending the period to 3 months gives it a 29.84%, and is -7.59% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.63% over the week and 7.14% over the month.

Assertio Holdings Inc. (ASRT) has around 30 employees, a market worth around $354.71M and $162.20M in sales. Current P/E ratio is 4.42 and Fwd P/E is 10.72. Profit margin for the company is 59.90%. Distance from 52-week low is 216.67% and -17.98% from its 52-week high. The company has generated returns on investments over the last 12 months (40.30%).

Assertio Holdings Inc. (ASRT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Assertio Holdings Inc. (ASRT) is a “Buy”. 3 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 1 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Assertio Holdings Inc. is expected to release its quarterly report on 08/03/2023.The EPS is expected to shrink by -81.80% this year

Assertio Holdings Inc. (ASRT) Top Institutional Holders

The shares outstanding are 51.01M, and float is at 47.43M with Short Float at 20.21%.

Assertio Holdings Inc. (ASRT) Insider Activity

A total of 14 insider transactions have happened at Assertio Holdings Inc. (ASRT) in the last six months, with sales accounting for 7 and purchases happening 7 times. The most recent transaction is an insider sale by Mason Heather L, the company’s Director. SEC filings show that Mason Heather L sold 89,286 shares of the company’s common stock on May 19 at a price of $7.30 per share for a total of $0.65 million. Following the sale, the insider now owns 0.19 million shares.

Assertio Holdings Inc. disclosed in a document filed with the SEC on May 05 that Tyree James L (Director) sold a total of 43,143 shares of the company’s common stock. The trade occurred on May 05 and was made at $6.00 per share for $0.26 million. Following the transaction, the insider now directly holds 0.17 million shares of the ASRT stock.

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