5 Penny Stocks to Buy in April

3. Assertio Holdings, Inc. (NASDAQ:ASRT)

Number of Hedge Fund Holders: 6

Share Price as of April 6: $3.16

Assertio Holdings, Inc. (NASDAQ:ASRT) is an Illinois-based specialty pharmaceutical company that develops medication for neurology, pain management, and inflammation. The stock has climbed nearly 40% in the last month. 

The company announced on March 9 a Q4 revenue of $33.33 million, up 10.5% year-over-year, exceeding market consensus by $2.56 million. Non-GAAP adjusted EBITDA for the fourth quarter came in at $17.8 million, representing a 13% growth as compared to the third quarter and 118% versus the earlier year. 

On March 31, Assertio Holdings, Inc. (NASDAQ:ASRT) announced a partnership with BlinkRx to support healthcare professionals and their patients undergoing treatment with Otrexup, a prescription drug device. Patients benefit from transparent low prices, free home delivery, and professional medical support. 

According to the fourth quarter database of Insider Monkey, 6 hedge funds were bullish on Assertio Holdings, Inc. (NASDAQ:ASRT), up from 4 funds in the prior quarter. The total stakes owned in Q4 amounted to $984,000.