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Assertio (ASRT) Flat As Market Sinks: What You Should Know

·3 min read

Assertio (ASRT) closed at $2.24 in the latest trading session, marking no change from the prior day. This change was narrower than the S&P 500's 1.13% loss on the day. Meanwhile, the Dow lost 1.01%, and the Nasdaq, a tech-heavy index, lost 0.18%.

Coming into today, shares of the drugmaker had lost 38.46% in the past month. In that same time, the Medical sector lost 4.89%, while the S&P 500 lost 7.59%.

Investors will be hoping for strength from Assertio as it approaches its next earnings release. On that day, Assertio is projected to report earnings of $0.07 per share, which would represent a year-over-year decline of 12.5%. Our most recent consensus estimate is calling for quarterly revenue of $31.33 million, up 23.01% from the year-ago period.

ASRT's full-year Zacks Consensus Estimates are calling for earnings of $0.51 per share and revenue of $135.86 million. These results would represent year-over-year changes of +1800% and +22.38%, respectively.

It is also important to note the recent changes to analyst estimates for Assertio. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.48% higher within the past month. Assertio currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Assertio has a Forward P/E ratio of 4.36 right now. For comparison, its industry has an average Forward P/E of 14.96, which means Assertio is trading at a discount to the group.

Meanwhile, ASRT's PEG ratio is currently 0.44. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ASRT's industry had an average PEG ratio of 1.66 as of yesterday's close.

The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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