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Assertio (ASRT) Gains As Market Dips: What You Should Know
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Assertio (ASRT - Free Report) closed at $3.11 in the latest trading session, marking a +1.63% move from the prior day. This move outpaced the S&P 500's daily loss of 2.91%. Meanwhile, the Dow lost 2.73%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Prior to today's trading, shares of the drugmaker had gained 16.35% over the past month. This has outpaced the Medical sector's gain of 2.04% and the S&P 500's gain of 0.84% in that time.
Assertio will be looking to display strength as it nears its next earnings release. In that report, analysts expect Assertio to post earnings of $0.08 per share. This would mark year-over-year growth of 125%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $31.62 million, up 24.65% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.40 per share and revenue of $130.93 million. These totals would mark changes of +1433.33% and +17.94%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Assertio. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 9.01% higher. Assertio currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Assertio's current valuation metrics, including its Forward P/E ratio of 7.59. For comparison, its industry has an average Forward P/E of 15.1, which means Assertio is trading at a discount to the group.
It is also worth noting that ASRT currently has a PEG ratio of 0.76. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Drugs industry currently had an average PEG ratio of 1.37 as of yesterday's close.
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 144, putting it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ASRT in the coming trading sessions, be sure to utilize Zacks.com.
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Assertio (ASRT) Gains As Market Dips: What You Should Know
Assertio (ASRT - Free Report) closed at $3.11 in the latest trading session, marking a +1.63% move from the prior day. This move outpaced the S&P 500's daily loss of 2.91%. Meanwhile, the Dow lost 2.73%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Prior to today's trading, shares of the drugmaker had gained 16.35% over the past month. This has outpaced the Medical sector's gain of 2.04% and the S&P 500's gain of 0.84% in that time.
Assertio will be looking to display strength as it nears its next earnings release. In that report, analysts expect Assertio to post earnings of $0.08 per share. This would mark year-over-year growth of 125%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $31.62 million, up 24.65% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.40 per share and revenue of $130.93 million. These totals would mark changes of +1433.33% and +17.94%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Assertio. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 9.01% higher. Assertio currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Assertio's current valuation metrics, including its Forward P/E ratio of 7.59. For comparison, its industry has an average Forward P/E of 15.1, which means Assertio is trading at a discount to the group.
It is also worth noting that ASRT currently has a PEG ratio of 0.76. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Drugs industry currently had an average PEG ratio of 1.37 as of yesterday's close.
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 144, putting it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ASRT in the coming trading sessions, be sure to utilize Zacks.com.