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Assertio (ASRT) Gains As Market Dips: What You Should Know
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Assertio (ASRT - Free Report) closed at $5.12 in the latest trading session, marking a +1.19% move from the prior day. This move outpaced the S&P 500's daily loss of 1.05%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 1.64%.
Prior to today's trading, shares of the drugmaker had gained 22.82% over the past month. This has outpaced the Medical sector's loss of 2.1% and the S&P 500's gain of 0.01% in that time.
Assertio will be looking to display strength as it nears its next earnings release, which is expected to be March 8, 2023. On that day, Assertio is projected to report earnings of $0.21 per share, which would represent year-over-year growth of 110%.
Investors might also notice recent changes to analyst estimates for Assertio. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 0.66% lower. Assertio is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Assertio currently has a Forward P/E ratio of 10.12. This valuation marks a discount compared to its industry's average Forward P/E of 13.27.
Investors should also note that ASRT has a PEG ratio of 1.01 right now. 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 1.01 as of yesterday's close.
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% 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.
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 $5.12 in the latest trading session, marking a +1.19% move from the prior day. This move outpaced the S&P 500's daily loss of 1.05%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 1.64%.
Prior to today's trading, shares of the drugmaker had gained 22.82% over the past month. This has outpaced the Medical sector's loss of 2.1% and the S&P 500's gain of 0.01% in that time.
Assertio will be looking to display strength as it nears its next earnings release, which is expected to be March 8, 2023. On that day, Assertio is projected to report earnings of $0.21 per share, which would represent year-over-year growth of 110%.
Investors might also notice recent changes to analyst estimates for Assertio. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 0.66% lower. Assertio is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Assertio currently has a Forward P/E ratio of 10.12. This valuation marks a discount compared to its industry's average Forward P/E of 13.27.
Investors should also note that ASRT has a PEG ratio of 1.01 right now. 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 1.01 as of yesterday's close.
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% 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.
To follow ASRT in the coming trading sessions, be sure to utilize Zacks.com.