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1. Company Snapshot

1.a. Company Description

Assertio Holdings, Inc., a specialty pharmaceutical company, provides medicines in the areas of neurology, hospital, and pain and inflammation.Its pharmaceutical products include INDOCIN, an oral solution and a suppository form for the treatment of moderate to severe rheumatoid arthritis, including acute flares of chronic disease; ankylosing spondylitis and osteoarthritis; and acute painful shoulder and gouty arthritis.It also provides CAMBIA, a non-steroidal anti-inflammatory drug (NSAID) for the treatment of migraine, nausea, photophobia, and phonophobia; Zipsor, a NSAID for relief of mild to moderate acute pain; SPRIX, a NSAID for the short term management of moderate to moderately severe pain that requires analgesia at the opioid level; and Otrexup, a single-dose auto-injector containing a prescription medicine and methotrexate that is used to treat adults with severe, active rheumatoid arthritis, and children with active polyarticular juvenile idiopathic arthritis.


The company was formerly known as Assertio Therapeutics, Inc.and changed its name to Assertio Holdings, Inc.in May 2020.


Assertio Holdings, Inc.was incorporated in 1995 and is headquartered in Lake Forest, Illinois.

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1.b. Last Insights on ASRT

Assertio Holdings, Inc.'s recent performance was negatively impacted by a securities class action lawsuit, with a looming deadline for investors to apply as lead plaintiff. The company was added to the Zacks Rank #5 (Strong Sell) List multiple times in September. Despite beating Q3 earnings and revenue estimates, with quarterly earnings of $0.11 per share, the company's leadership transition and prior downgrades may have raised concerns among investors. A new CEO was appointed, effective immediately.

1.c. Company Highlights

2. Assertio Holdings' Q3 2025 Earnings: A Closer Look

Assertio Holdings reported total product sales of $49.5 million for the third quarter of 2025, marking a significant increase from $28.7 million in the prior year quarter, primarily driven by the pull-forward of Rolvedon sales. The company's adjusted EBITDA was $20.9 million, up from $4.4 million in the prior year quarter. The gross margin decreased to 72% compared to 74% in the prior year due to higher Rolvedon sales. Assertio's actual EPS came out at $0.11, beating estimates of -$0.08.

Publication Date: Nov -30

📋 Highlights
  • Q3 Rolvedon Sales Growth:: Rolvedon net product sales surged to $38.6M (up from $15M YoY), driven by a 2-quarter sales pull-forward.
  • Adjusted EBITDA Increase:: Adjusted EBITDA rose to $20.9M (from $4.4M YoY), primarily due to higher Rolvedon sales.
  • Full-Year 2025 Guidance Narrowed:: Product sales now projected at $110M–$112M, with adjusted EBITDA of $14M–$16M, reflecting Rolvedon pull-forward impacts.
  • Gross Margin Decline:: Gross margin dipped to 72% (from 74% YoY) due to higher Rolvedon sales mix.
  • Strategic Focus on Price Stability:: Management aims to maintain price predictability for customers while advancing Rolvedon’s same-day dosing data publication.

Revenue Growth Drivers

Rolvedon net product sales were $38.6 million, up from $15 million in the prior year quarter, driven by a 2-quarter pull-forward of sales. According to Paul Schwichtenberg, President and Chief Operating Officer, the company executed a long-term supply agreement with Hanmi, its API manufacturer, and anticipated publication of same-day dosing data in a major journal. This pull-forward effect is expected to impact future sales, as reflected in the company's guidance for full-year product sales between $110 million and $112 million.

Valuation Metrics and Future Outlook

With a P/S Ratio of 0.61 and an EV/EBITDA of -3.81, the market seems to have factored in the challenges Assertio faces. Analysts estimate next year's revenue growth at -1.1%, indicating a potential decline in sales. However, Assertio's CEO, Mark Reisenauer, expressed his focus on advancing strategic initiatives to drive growth, suggesting that the company is working to mitigate the expected decline. The current valuation metrics, combined with the company's efforts to drive growth, will be crucial in determining the stock's performance in the coming year.

Strategic Initiatives and Guidance

Assertio guided full-year product sales on the current operating portfolio to between $110 million and $112 million and adjusted EBITDA to be between $14 million and $16 million, reflecting the impacts of the pull-forward of Rolvedon sales. The company's strong financial position and focus on advancing strategic initiatives are expected to drive growth, despite the anticipated decline in revenue. As Mark Reisenauer stated, the company is "pleased with the strong financial position and is focused on advancing strategic initiatives to drive growth."

3. NewsRoom

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Assertio (ASRT) Surpasses Q3 Earnings and Revenue Estimates

Nov -11

Source: zacks.com

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Assertio Holdings, Inc. (ASRT) Q3 2025 Earnings Call Transcript

Nov -10

Source: seekingalpha.com

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Assertio Reports Third Quarter 2025 Financial Results

Nov -10

Source: businesswire.com

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Assertio Announces Leadership Transition

Oct -28

Source: globenewswire.com

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Spectrum Pharmaceuticals (SPPI) and Assertio Holdings (ASRT) Investor Alert: FINAL DEADLINE in Securities Lawsuit– Hagens Berman

Sep -23

Source: globenewswire.com

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CLASS ACTION DEADLINE APPROACHING: Berger Montague Advises Spectrum Pharmaceuticals (NASDAQ: SPPI) Investors to Inquire About a Securities Fraud Class Action by September 24, 2025

Sep -23

Source: prnewswire.com

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New Strong Sell Stocks for September 23rd

Sep -23

Source: zacks.com

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Spectrum Pharmaceuticals (SPPI) and Assertio Holdings (ASRT) Investor Alert: 3-DAY DEADLINE in Securities Lawsuit– Hagens Berman

Sep -21

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.50%)

6. Segments

Pharmaceutical

Expected Growth: 8.5%

Assertio Holdings, Inc.'s pharmaceutical segment growth of 8.5% is driven by increasing demand for its pain management and neurology products, strategic partnerships, and expansion into new markets. Additionally, the company's focus on product development and lifecycle management, as well as its cost-saving initiatives, contribute to its growth momentum.

7. Detailed Products

Nucynta

Nucynta is a prescription pain medication used to manage moderate to severe acute pain in adults.

Nucynta ER

Nucynta ER is a prescription pain medication used to manage moderate to severe chronic pain in adults.

Gralise

Gralise is a prescription medication used to treat postherpetic neuralgia (PHN), a type of nerve pain that occurs after a shingles infection.

Zohydro ER

Zohydro ER is a prescription pain medication used to manage severe pain that requires daily, around-the-clock, long-term treatment.

Silenor

Silenor is a prescription medication used to treat insomnia, a condition characterized by difficulty falling asleep or staying asleep.

8. Assertio Holdings, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Assertio Holdings, Inc. is medium due to the presence of alternative pharmaceutical products and treatments available in the market.

Bargaining Power Of Customers

The bargaining power of customers for Assertio Holdings, Inc. is low due to the company's strong brand presence and limited switching options for customers.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Assertio Holdings, Inc. is medium due to the presence of multiple suppliers and the company's moderate dependence on them.

Threat Of New Entrants

The threat of new entrants for Assertio Holdings, Inc. is high due to the attractiveness of the pharmaceutical industry and the presence of new market entrants.

Intensity Of Rivalry

The intensity of rivalry for Assertio Holdings, Inc. is high due to the presence of established competitors and the high stakes in the pharmaceutical industry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 22.23%
Debt Cost 6.32%
Equity Weight 77.77%
Equity Cost 8.96%
WACC 8.38%
Leverage 28.58%

11. Quality Control: Assertio Holdings, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Cyclo Therapeutics

A-Score: 3.8/10

Value: 8.0

Growth: 3.4

Quality: 5.0

Yield: 0.0

Momentum: 5.5

Volatility: 1.0

1-Year Total Return ->

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Assertio

A-Score: 3.4/10

Value: 9.2

Growth: 2.7

Quality: 4.5

Yield: 0.0

Momentum: 1.0

Volatility: 3.0

1-Year Total Return ->

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TherapeuticsMD

A-Score: 3.2/10

Value: 7.3

Growth: 4.8

Quality: 5.0

Yield: 0.0

Momentum: 0.5

Volatility: 1.7

1-Year Total Return ->

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Emergent BioSolutions

A-Score: 3.2/10

Value: 6.5

Growth: 1.3

Quality: 5.8

Yield: 0.0

Momentum: 5.0

Volatility: 0.7

1-Year Total Return ->

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Alpha Teknova

A-Score: 3.2/10

Value: 6.6

Growth: 1.3

Quality: 4.3

Yield: 0.0

Momentum: 5.5

Volatility: 1.3

1-Year Total Return ->

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Rockwell Medical

A-Score: 2.6/10

Value: 6.4

Growth: 4.2

Quality: 3.4

Yield: 0.0

Momentum: 0.5

Volatility: 1.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

0.77$

Current Price

0.77$

Potential

-0.00%

Expected Cash-Flows