ASRT Stock Recent News

Assertio (NASDAQ: ASRT ) stock is falling hard on Friday after the pharmaceutical company released its Q2 earnings report. Assertio disappointed investors with its adjusted earnings per share of 19 cents.

The stock is down 33% from its 52-week high. Q2 revenue estimates are low. Lead product's use may be expanding.

Spectrum stockholders will receive contingent value rights, too, along with Assertio shares. The rewards are payable on achievement of 2024 and 2025 sales levels from Spectrum's lead drug. Rolvedon has already reached the first (hardest) target in Q1 without the help of a J-Code that took effect at the beginning of Q2.

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Assertio is a late-stage pharmaceutical company that has shown significant growth and cost savings under new leadership, focusing on a low-cost, data-driven marketing model. The company's leading product, Indocin, has seen increased sales and a recent 5x market expansion not yet included in company guidance. Assertio ranks in the top 1% of stocks in both value and high-quality momentum.

Share portion of takeover by Assertio Holdings covers the value of the shares plus a merger spread. Contingent value rights on their drug are also included, adding up to $0.20 per share. CVR payout will require aggressive sales growth, but they're effectively free.

Assertio Holdings, a pharmaceutical company, has demonstrated solid financials and growth potential, with a focus on reducing debt levels and increasing cash generation through strategic acquisitions. The company's liquidity position has improved over the past few years, with increasing current and cash ratios indicating a well-managed leverage condition. Despite potential risks such as increasing competition from generics and supply chain vulnerabilities, Assertio's strong financial structures and progress make it a suitable buy-rated stock.

In Q1 FY2023, Assertio achieved significant progress in executing the new strategy brought on board by CEO Dan Peisert. The market expects ASRT's EPS to decline nearly 82% YoY in FY2023, but then rebound strongly, with a compound annual growth rate [CAGR] of 23.7% over the next 3 years. I reiterate my previous "Buy" rating and set a 12-month price target of $10.16 per share, implying an upside potential of 60% over the medium term.

Assertio Holdings, Inc. (NASDAQ:ASRT ) Q1 2023 Results Earnings Conference Call May 10, 2023 4:30 PM ET Company Participants Matt Kreps - Darrow Associates, Investor Relations Dan Peisert - President and Chief Executive Officer Paul Schwichtenberg - Senior Vice President and Chief Financial Officer Conference Call Participants Thomas Flaten - Lake Street Capital Markets Scott Henry - ROTH Capital William Wood - B. Riley Securities Hamed Khorsand - BWS Financial Mitra Ramgopal - Sidoti & Company Operator Good afternoon and welcome to the Assertio Holdings, Inc. First Quarter 2023 Financial Results Conference Call.

The world's foremost artificial intelligence stock trading algorithm, An-E, predicts that Assertio (NASDAQ: ASRT ) stock will gain 3% by June 1. An-E (pronounced Annie) has made this kind of prediction before.