Short Interest in Assertio Holdings, Inc. (NASDAQ:ASRT) Decreases By 92.8%

by · The Markets Daily

Assertio Holdings, Inc. (NASDAQ:ASRT – Get Free Report) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totaling 285,110 shares, a decline of 92.8% from the December 15th total of 3,935,645 shares. Approximately 4.6% of the company’s shares are sold short. Based on an average trading volume of 79,329 shares, the short-interest ratio is presently 3.6 days. Based on an average trading volume of 79,329 shares, the short-interest ratio is presently 3.6 days. Approximately 4.6% of the company’s shares are sold short.

Institutional Trading of Assertio

A number of large investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new stake in shares of Assertio during the 1st quarter valued at about $65,000. TSP Capital Management Group LLC increased its stake in 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 acquiring an additional 34,550 shares during the last quarter. Nantahala Capital Management LLC raised its position in Assertio by 4.4% during the second quarter. Nantahala Capital Management LLC now owns 8,810,073 shares of the company’s stock valued at $5,649,000 after purchasing an additional 370,311 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 41,332 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Assertio by 536.0% in the 3rd quarter. GSA Capital Partners LLP now owns 381,584 shares of the company’s stock worth $336,000 after purchasing an additional 321,584 shares during the period. Institutional investors own 48.96% of the company’s stock.

Assertio Price Performance

Assertio stock traded up $0.13 during mid-day trading on Monday, reaching $9.32. 58,579 shares of the stock traded hands, compared to its average volume of 59,479. The company has a quick ratio of 1.43, a current ratio of 1.58 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average is $10.86 and its 200-day moving average is $11.48. Assertio has a 12-month low of $7.65 and a 12-month high of $15.15.

Assertio (NASDAQ:ASRT – Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of ($1.20) by $2.85. The business had revenue of $49.46 million for the quarter, compared to analysts’ expectations of $27.02 million. Assertio had a negative net margin of 21.06% and a negative return on equity of 26.99%. Equities research analysts anticipate that Assertio will post -0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ASRT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Assertio in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Assertio to a “buy” rating in a research note on Saturday, November 22nd. HC Wainwright reissued a “buy” rating and set a $35.00 price objective (up previously from $3.00) on shares of Assertio in a research note on Monday, January 5th. Finally, Zacks Research raised shares of Assertio from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.63.

Read Our Latest Stock Analysis on Assertio

Assertio Company Profile

(Get Free Report)

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.

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