In the latest trading session, Assertio (ASRT) closed at $1.14, marking a -1.72% move from the previous day. This move lagged the S&P 500's daily gain of 0.19%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq gained 0.08%.
Prior to today's trading, shares of the drugmaker had lost 9.38% over the past month. This has lagged the Medical sector's gain of 1.85% and the S&P 500's gain of 3.72% in that time.
Investors will be hoping for strength from ASRT as it approaches its next earnings release. On that day, ASRT is projected to report earnings of $0.14 per share, which would represent a year-over-year decline of 53.33%. Meanwhile, our latest consensus estimate is calling for revenue of $55.55 million, up 30.4% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for ASRT. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ASRT is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, ASRT is holding a Forward P/E ratio of 1.66. For comparison, its industry has an average Forward P/E of 14.83, which means ASRT is trading at a discount to the group.
It is also worth noting that ASRT currently has a PEG ratio of 0.08. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Drugs industry currently had an average PEG ratio of 1.19 as of yesterday's close.
The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ASSERTIO THERAPEUTICS, INC (ASRT) : Free Stock Analysis Report
To read this article on Zacks.com click here.