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Assertio (ASRT) to Report Q3 Earnings: What's in the Cards?
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Assertio Holdings (ASRT - Free Report) is soon to report third-quarter 2022 results.
In the third-quarter 2022 results, we expect investors to focus on the sales performance of Assertio’s marketed drugs and the restructuring initiatives, which are expected to generate substantial annualized savings.
ASRT’s earnings surpassed expectations in three of the trailing four quarters and missed the same on the remaining occasion, the average surprise being 126.39%. In the last reported quarter, Assertio posted an earnings surprise of 100%.
Assertio Holdings, Inc. Price, Consensus and EPS Surprise
In the year so far, shares of Assertio have declined 1.3% compared with the industry’s fall of 30.5% fall.
Image Source: Zacks Investment Research
Let’s see how things have shaped up for the quarter to be reported.
Factors to Consider
Assertio Holdings currently has a differentiated product portfolio targeting various diseases.
Indocin, the company’s lead product, has been approved by the FDA for multiple indications, including rheumatoid arthritis, ankylosing spondylitis, osteoarthritis, bursitis, tendinitis and acute gouty arthritis. The regulatory body has approved the drug’s use in suppository and oral solution forms.
Assertio also markets other products, which include Cambia (for acute treatment of migraine attacks with or without aura), Otrexup (a single-dose injection containing methotrexate for treating rheumatoid arthritis and active polyarticular juvenileidiopathic arthritis) and Oxaydo, Sprix and Zipsor (for pain management).
The company generates revenues from three sources — product sales, royalties and milestones and other revenues.
In the last reported quarter, Assertio’s net product sales were up 40% year over year, driven by the addition of Otrexup to its portfolio and higher net pricing and volume on Indocin. Indocin volumes were up approximately 4% year-over-year and increased 7% sequentially. The trend is likely to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for net product sales is currently pegged at $31.96 million.
Last year in December, the company acquired Otrexup from Antares Pharma. Otrexup is a strategic fit with Assertio Holdings’ unique digital platform, which is expected to drive the company's long-term growth starting in 2022.
Sprix also witnessed a strong volume growth in the second quarter of 2022, with an increment of 20% year-over-year and 13% sequential paid volume growth. The trend is likely to have continued in the to-be-reported quarter.
In the last reported quarter, royalties and milestones declined 17% year over year. The Zacks Consensus for royalties and milestones is currently pegged at $0.43 million.
Assertio Holdings announced a restructuring plan back in December 2020. Its restructuring, which is now complete, has resulted in significant cost savings and a reduction in overall operating expenses. This is anticipated to have boosted Assertio Holdings’ profits, helping the company achieve $45 million of annualized synergies starting in 2022.
With the completion of the restructuring initiative, the company underwent a massive transformation and shifted its focus on growing its business, which is expected to have affected third-quarter results positively.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Assertio Holdings this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Assertio Holdings has an Earnings ESP of 0.00% as the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 7 cents per share.
Zacks Rank: Assertio Holdings currently flaunts a Zacks Rank #3 (Hold).
Stocks to Consider
Here are some stocks in the medical sector worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Shares of BioMarin have increased 1.9% in the year-to-date period. BMRN beat earnings estimates in all the last four quarters. It has an earnings surprise of 98.90%, on average.
Intellia Therapeutics (NTLA - Free Report) has an Earnings ESP of +11.54% and a Zacks Rank of 2.
Earnings of NTLA missed estimates all of the trailing four quarters. It has a negative surprise of 28%, on average.
AVEO Pharmaceuticals has an Earnings ESP of +8.16% and a Zacks Rank of 2.
Shares of AVEO Pharmaceuticals have surged 214.7% in the year-to-date period. Earnings of AVEO beat earnings estimates in three of the trailing four quarter, missing the same in the remaining occasion. It has a positive earnings surprise of 13.10%, on average.
Image: Bigstock
Assertio (ASRT) to Report Q3 Earnings: What's in the Cards?
Assertio Holdings (ASRT - Free Report) is soon to report third-quarter 2022 results.
In the third-quarter 2022 results, we expect investors to focus on the sales performance of Assertio’s marketed drugs and the restructuring initiatives, which are expected to generate substantial annualized savings.
ASRT’s earnings surpassed expectations in three of the trailing four quarters and missed the same on the remaining occasion, the average surprise being 126.39%. In the last reported quarter, Assertio posted an earnings surprise of 100%.
Assertio Holdings, Inc. Price, Consensus and EPS Surprise
Assertio Holdings, Inc. price-consensus-eps-surprise-chart | Assertio Holdings, Inc. Quote
In the year so far, shares of Assertio have declined 1.3% compared with the industry’s fall of 30.5% fall.
Image Source: Zacks Investment Research
Let’s see how things have shaped up for the quarter to be reported.
Factors to Consider
Assertio Holdings currently has a differentiated product portfolio targeting various diseases.
Indocin, the company’s lead product, has been approved by the FDA for multiple indications, including rheumatoid arthritis, ankylosing spondylitis, osteoarthritis, bursitis, tendinitis and acute gouty arthritis. The regulatory body has approved the drug’s use in suppository and oral solution forms.
Assertio also markets other products, which include Cambia (for acute treatment of migraine attacks with or without aura), Otrexup (a single-dose injection containing methotrexate for treating rheumatoid arthritis and active polyarticular juvenileidiopathic arthritis) and Oxaydo, Sprix and Zipsor (for pain management).
The company generates revenues from three sources — product sales, royalties and milestones and other revenues.
In the last reported quarter, Assertio’s net product sales were up 40% year over year, driven by the addition of Otrexup to its portfolio and higher net pricing and volume on Indocin. Indocin volumes were up approximately 4% year-over-year and increased 7% sequentially. The trend is likely to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for net product sales is currently pegged at $31.96 million.
Last year in December, the company acquired Otrexup from Antares Pharma. Otrexup is a strategic fit with Assertio Holdings’ unique digital platform, which is expected to drive the company's long-term growth starting in 2022.
Sprix also witnessed a strong volume growth in the second quarter of 2022, with an increment of 20% year-over-year and 13% sequential paid volume growth. The trend is likely to have continued in the to-be-reported quarter.
In the last reported quarter, royalties and milestones declined 17% year over year. The Zacks Consensus for royalties and milestones is currently pegged at $0.43 million.
Assertio Holdings announced a restructuring plan back in December 2020. Its restructuring, which is now complete, has resulted in significant cost savings and a reduction in overall operating expenses. This is anticipated to have boosted Assertio Holdings’ profits, helping the company achieve $45 million of annualized synergies starting in 2022.
With the completion of the restructuring initiative, the company underwent a massive transformation and shifted its focus on growing its business, which is expected to have affected third-quarter results positively.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Assertio Holdings this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Assertio Holdings has an Earnings ESP of 0.00% as the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 7 cents per share.
Zacks Rank: Assertio Holdings currently flaunts a Zacks Rank #3 (Hold).
Stocks to Consider
Here are some stocks in the medical sector worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
BioMarin Pharmaceutical (BMRN - Free Report) has an Earnings ESP of +10.77% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of BioMarin have increased 1.9% in the year-to-date period. BMRN beat earnings estimates in all the last four quarters. It has an earnings surprise of 98.90%, on average.
Intellia Therapeutics (NTLA - Free Report) has an Earnings ESP of +11.54% and a Zacks Rank of 2.
Earnings of NTLA missed estimates all of the trailing four quarters. It has a negative surprise of 28%, on average.
AVEO Pharmaceuticals has an Earnings ESP of +8.16% and a Zacks Rank of 2.
Shares of AVEO Pharmaceuticals have surged 214.7% in the year-to-date period. Earnings of AVEO beat earnings estimates in three of the trailing four quarter, missing the same in the remaining occasion. It has a positive earnings surprise of 13.10%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.