Assertio (ASRT - Free Report) shares ended the last trading session 5.1% higher at $5.53. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 30.9% gain over the past four weeks.
The rise in Assertio’s stock price is attributable to positive investor sentiments surrounding its upcoming fourth quarter results. Last month, the company announced preliminary results, wherein it said it expects at least 54% year over year increase in net product sales in fourth-quarter 2022.
This drugmaker is expected to post quarterly earnings of $0.57 per share in its upcoming report, which represents a year-over-year change of +470%. Revenues are expected to be $49.57 million, up 48.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Assertio, the consensus EPS estimate for the quarter has been revised 2.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ASRT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Assertio is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Lyra Therapeutics, Inc. (LYRA - Free Report) , finished the last trading session 3% higher at $2.38. LYRA has returned -13.2% over the past month.
For Lyra Therapeutics, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.42. This represents a change of +60% from what the company reported a year ago. Lyra Therapeutics, Inc. currently has a Zacks Rank of #3 (Hold).
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Assertio (ASRT - Free Report) shares ended the last trading session 5.1% higher at $5.53. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 30.9% gain over the past four weeks.
The rise in Assertio’s stock price is attributable to positive investor sentiments surrounding its upcoming fourth quarter results. Last month, the company announced preliminary results, wherein it said it expects at least 54% year over year increase in net product sales in fourth-quarter 2022.
This drugmaker is expected to post quarterly earnings of $0.57 per share in its upcoming report, which represents a year-over-year change of +470%. Revenues are expected to be $49.57 million, up 48.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Assertio, the consensus EPS estimate for the quarter has been revised 2.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ASRT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Assertio is a member of the Zacks Medical - Drugs industry. One other stock in the same industry, Lyra Therapeutics, Inc. (LYRA - Free Report) , finished the last trading session 3% higher at $2.38. LYRA has returned -13.2% over the past month.
For Lyra Therapeutics, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.42. This represents a change of +60% from what the company reported a year ago. Lyra Therapeutics, Inc. currently has a Zacks Rank of #3 (Hold).
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
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