Assertio Holdings, Inc. (NASDAQ:ASRT)

Assertio Holdings, Inc.(NASDAQ:ASRT) (NASDAQ: $3.06; $147.7M market cap), a specialty pharmaceutical company, announced an increase in its full year 2022 outlook. The company now expects sales to be greater than $152 million, increased from prior guidance of greater than $141 million.  The guidance implies Q4 2022 sales to be roughly $45 million, well ahead of current analyst estimates of $36.5 million. 

Note that on August 23, 2022 we removed ASRT from our Model Portfolios due to a $60 million convertible senior note offering, but we recently stated that stock is back on our radar

PATK shares soar on acquisition and upgrade

It took it little longer than we anticipated, but the stock finally made a nice move to the upside.  In our May 20, 2015 email when the stock was trading at $39.71 and via premium tweet on June 9, 2015 when the stock was trading at $37.25 we stated we had nibbled at shares as the stock has pulled back off highs despite reporting very strong Q1 2015 results.  Yesterday, shares of PATK ($42.53) closed up 12% after hitting a new 52 week high of $44.95 on the heels of completing the acquisition of North American Forest Products and an upgrade to “strong buy” by CL King with a price target of $51.00.  The acquisition of North American Forest Products will add roughly $165 million in revenue and be immediately accretive to earnings.  Current estimates have PATK earnings at $2.49 EPS in 2015 and $3.18 EPS in 2016.  We are currently reviewing analyst estimates to see if they fully reflect the recent acquisition. We are still long PATK.